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Tuesday, January 15, 2008. When a lender is looking at a solution for a defaulted loan, there is a range of solutions ranging from a simple repayment plan all the way down to completing the foreclosure action. The options are listed below in the order most lenders will prefer to workout a defaulted loan with the repayment plan being the preferred, most used option. Deed In Lieu of Foreclosure.
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At the first point of contact. Improve customer service by reducing legitimate claims time to settlement. To have a significant effect on your bottom line. By saving on unrightfully paid claims, reducing your exposure with new customers and focusing investigation resources.