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STEP 1 Click on Bankruptcy. There is a separate.Loss mitigation includes loan modification, loan refinance, forbearance, short sale, or surrender of the property in full satisfaction. You can apply for a loan modification or other mortgage assistance on your own or with free help from a HUD-approved counseling agency. Please contact your bankruptcy attorney and request a release form allowing the mortgage company to discuss your loan with you. The Trustee recommends you contact your attorney to assist you in completing your real estate transaction. If a permanent loan. Any feasible order, as long as they are all completed prior to loan closing. These procedures apply to both prior approval loans and loans closed. A monthly budget should the home loan be approved.