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:
“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)
“One of the benefits of a college education is, to show the boy its little avail.”
—Ralph Waldo Emerson (1803–1882)
“When your parents are in political life, you aren’t normal. Everybody talks about the benefits, but I don’t know what the benefits are.... But I’d rather have that kind of mother than an overweight housewife.”
—Katherine Berman Mariano (b. 1957)