Document background
The Loss Mitigation Letter From Mortgage Company is a crucial document used when borrowers face financial hardship affecting their ability to maintain mortgage payments. It serves as both a regulatory requirement and a practical tool for preventing foreclosures in England and Wales. The letter must detail specific options available to the borrower, including payment modifications, temporary payment reductions, or refinancing options. It typically follows initial contact about payment difficulties and precedes any enforcement action, forming part of the required steps under the Pre-Action Protocol for Possession Claims.
