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If a loan has to be 61 days delinquent to be considered for a Loss Mitigation incentive, should the ervicer intervene early?

Published 08/09/2012 02:33 PM   |    Updated 08/09/2012 02:33 PM

If a loan has to be 61 days delinquent to be considered for a Loss Mitigation incentive, then what is VA's stance on when a servicer should intervene early?

Servicers should intervene as soon as possible to preserve the loan or avoid foreclosure. Loans are not eligible for an incentive payment unless the loan is at least 61 days delinquent.