Differences Between Loss Mitigation and Short Sales
July 14th, 2009
It seems to me that the only difference between gathering information for Loss Mitigation and a Short Sale is the sale and purchase contract (Short Sale). Basically the rest of the information to process the 2 are the same. Is this true?
If you're new around here, you might want to subscribe to our Upside-Down Mortgage RSS feed. It's quite likely the only feed of it's type on the internet!
Posted in Loss Mitigation, Short Sales | 
Tags: definition of loss mitigation, definition of short sale, differences between loss mitigation and short sales, explain loss mitigation, is loss mitigation same as short sale, Loss Mitigation, loss mitigation question, loss mitigation vs short sales, purchase contract, sale and purchase contract, short sale, short sale versus loss mitigation, Short Sales, what is loss mitigation, what is short sale, what is the difference between loss mitigation and short sale
You are correct. You are re-qualifying the homeowner as if you were turning back the clock. Did they lie on the original application. Do they have more assets than they are claiming. Are they willing to share the loss..