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Loss mitigation is a vehicle that helps home owners save their homes from foreclosure. The sad part is that most people are not aware that legal and effective loss mitigation programs are available that can stop foreclosure quickly and legally. Loss Mitigation is the process of helping delinquent homeowners, in or close to foreclosure, to save their home. It can also be described as a calculative technique of negotiating with lenders on behalf of the homeowners to obtain a lender workout plan. Loss Mitigation is the most effective method of avoiding or stopping the foreclosure sale. It is an intervention program wherein the lender is willing to work out an agreement that will allow a home owner to catch up their mortgage over a period of time. Loss Mitigation Consultants are needed in most states.