Benefits
The most common benefit to the homeowner is the prevention of foreclosure because loss mitigation works to either relieve the homeowner of the or create a mortgage resolution that is financially sustainable for the homeowner. Lenders benefit by mitigating the losses they would incur through foreclosing on the homeowner. Immediate foreclosure creates a tremendous financial burden on the lender.
Read more about this topic: Loss Mitigation
Famous quotes containing the word benefits:
“Unfortunately, we cannot rely solely on employers seeing that it is in their self-interest to change the workplace. Since the benefits of family-friendly policies are long-term, they may not be immediately visible or quantifiable; companies tend to look for success in the bottom line. On a deeper level, we are asking those in power to change the rules by which they themselves succeeded and with which they identify.”
—Anne C. Weisberg (20th century)
“In America the young are always ready to give to those who are older than themselves the full benefits of their inexperience.”
—Oscar Wilde (1854–1900)
“While greedy good-doers, beneficent beasts of prey,
Swarm over their lives enforcing benefits ...”
—Robert Frost (1874–1963)