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Loss Mitigation Letter Questions be ing mailed toa chapter 7 discharge non-reaffirmed borrower

Published 08/09/2012 07:38 AM   |    Updated 08/13/2012 08:41 AM

If the customer is a chapter 7 discharge non-reaffirmed, should the Loss Mitigation Letter Questions be mailed?

We understand some servicers send special letters under these circumstances. Those special letters have been designed with the assistance of counsel to provide the status of the loan and list potential actions by the servicer, without specifically asking for payment. If such a letter contained advice that the loan was guaranteed by VA and provided the VA website address, that might be beneficial to a veteran, as well as the servicer.

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