Loss mitigation is action taken on the part of the lender to change the terms of a seriously delinquent loan or otherwise lessen the risk of foreclosure. While the number of borrowers in loss mitigation has increased, it has been matched by an increasing level of delinquent loans. Loss mitigation is basically an art of negotiation. Foreclosures and mortgage delinquencies are in the millions. According to reports, consumer debt, foreclosures, bankruptcy filings and mortgage delinquencies are higher than at any other time in history. Investigate a new career in Loss Mitigation Training today.