With the end of the Department of Treasury's Home Affordable Modification Program coming in January 2017, the Consumer Financial Protection Bureau has released a set of four principles for financial institutions to use when considering how to help a borrower avoid foreclosure . These principals are intended “to complement ongoing discussions among industry, consumer groups and policymakers on the development of loss mitigation programs that span the full spectrum of both home retention options such as forbearance, repayment plans and modifications, and home disposition options such as short sales and deeds-in-lieu.”
