What it means in Tennessee:
Mitigation in Tennessee refers to negotiating alternatives to foreclosure by working directly with a lender or loan servicer before a foreclosure sale occurs.

Key points:
• Mitigation efforts typically occur before the scheduled foreclosure sale
• Lender approval is required for most mitigation options
• Mitigation may be pursued alongside litigation or bankruptcy

Common mitigation options:
• Loan modification
• Forbearance agreements
• Repayment plans
• Short sale
• Deed in lieu of foreclosure

Tennessee-specific considerations:
• Submitting a mitigation application does not automatically stop foreclosure
• Early communication with the lender improves the likelihood of review
• Some homeowners pursue mitigation while also filing bankruptcy to pause foreclosure activity
• Lenders are not required to approve modification requests

Whom it applies to:
• Tennessee homeowners experiencing financial hardship
• Borrowers seeking alternatives to foreclosure
• Property owners attempting to avoid trustee sale