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Loss Mitigation Updates!
Mortgage Servicers all have a Loss Mitigation department. Some call them by another name but the purpose is the same... to mitigate the losses on a defaulted loan. By the way, Lenders do experience losses when a home goes into foreclosure. I read a recent article from Freddie Mac putting this number at $60,000.00 per foreclosure. Wow! . . . (to read the remainder of this article, please log in below.)
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