Confusing cause and effect is one of the most common logical fallacies. It's a principal component of most propaganda. It's also known as the correlation/causation error, Post Hoc Ergo Propter Hoc or the false cause fallacy.
Loss Mitigation. Loss mitigation is a process used by mortgage lenders to work with buyers who are delinquent on their home loans. Through the loss mitigation process, a lender may modify the terms of a home loan, allowing the homeowner to sell the property for less than is owed, or transfer the deed back to the lender. The goals of loss mitigation are to reduce the potential loss being incurred by a lender when the borrower is delinquent.
options and file an application for mortgage assistance. In addition, if the borrower has already submitted a complete application for mortgage assistance â often called a loss mitigation application â the mortgage servicer may not begin the foreclosure process while a borrower is being evaluated for a loss mitigation plan. Of course, a loss mitigation plan might not prevent foreclosure if the borrower stops making payments under the plan.