loss mitigation

Loss mitigation is nothing but the process by which a lender co-ordinates with the buyers & modifies the loan term, allows the buyer to sell his home in low price than the loan amount or other needed things. By doing this the lender motivates the buyers to payback the loan as much as possible. The possible options are

a.Loan modification
b.Shortsale
c.Forbearance
d.Partial claim
e.Deed-in-Lieu of Foreclosure etc...