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the efforts a lender takes to collect past due payments.
Departments of the Treasury & Housing and Urban Development, Making Home Affordable Program - Cite This Source - This Definition- Browse Related Terms: "Bait-and-switch" schemes, Alt-A Mortgages, Balloon Payment, cash-out refinancing, Collections, Delinquency, Home improvement scams, Loan flip, Loan modification, Mortgage Modification, Prepayment penalty, Prime, Prime Mortgages, Refinance, Subprime, Subprime Mortgages