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Loss mitigation works to negotiate mortgage terms for the homeowner that will prevent foreclosure. These new terms are typically obtained through loan modification, short sale negotiation, short refinance negotiation, deed in lieu of foreclosure , cash-for-keys negotiation, a partial claim loan, repayment plan , forbearance, or other loan work-out.
For example, consider a tenant who signs an agreement to rent a house for a year, but moves out (and stops paying rent) after only one month. The landlord may be able to sue the tenant for breach of contract: however, the landlord must mitigate damages by making a reasonable attempt to find a replacement tenant for the remainder of the year.
Mitigation planning identifies policies and actions that can be taken over the long term to reduce risk, and in the event of a disaster occurring, minimize loss. Such policies and actions are based on a risk assessment , using the identified hazards , vulnerabilities and probabilities of occurrence and estimates of impact to calculate risks ...
Other than pecuniary damages, which is the most common type of damages recovered, there are a few other recognizable types of damages under English law, and still others that have their validity subject to ongoing debate: Injured feelings and disappointment; Injured reputation; Speculative damages; Liquidated damages and penalty; Quantum meruit [4]
Long-term capital gains and losses should be netted against each other as should short-term gains and losses. For example, you might have realized $500 in profit on one long-term holding, while ...
Since 2017, insured losses have reached $67 billion. The recent Los Angeles fires are expected to add another $250 billion to $275 billion in economic losses, the Los Angeles Times reported.
No net loss" (NNL) is an environmental policy approach that aims to counterbalance the negative impacts of development projects on the environment by using environmental mitigation measures. [1] For example, the policy aims for no net loss of wetlands in the United States (where it originated) or no net loss of biodiversity in other regions.
House fires have been falling for decades thanks to safer heating, higher building standards and a multitude of safety devices. But even so, home structure fires still killed 2,710 people in 2022 ...