A betterment agreement is one that provides financial assistance to homeowners for the repair, replacement, or upgrade of their property. Betterment allows a community to create a loan fund to be used to improve land in the community. For example, under a state law, every town and city in Massachusetts has the option of providing upfront financing for residential cesspool or septic system repairs, replacements or upgrades for failed septic systems. This is done in much the same way many communities currently undertake public works improvements, such as the paving of roads and the installation of sewer or watermains.
