Common Terminology:LOSS MITIGATION DEED IN LIEU OF FORECLOSURE LOAN MODIFICATION LOAN RESTRUCTURING PARTIAL CLAIM LOAN REPAYMENT PLANS SPECIAL FORBEARANCE SHORT SALES CASH FOR KEYS BANKRUPTCY DEBT NEGOTIATION
LOAN REPAYMENT PLANS
If you have missed payments on your mortgage, then you know that the lender will be asking you to pay all the past due amounts plus penalties. If all that money is not paid in full, then foreclosure may be forthcoming. At this point, paying a lump sum of all the delinquent mortgage payments is just not financially possible. A repayment plan will let you repay part of the delinquency each month, along with your regular monthly installment.