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Confession of judgment clause
Confession of judgment clause Permits judgment to be entered against a debtor without the creditors needing to institute legal proceedings.
RELATED TERMS--------------------------------------
Judgment A formal decision issued by a court relating to the specific claims and rights of the parties to an act or suit.
Debtor One who owes money; a borrower, a maker of a note; a mortgagor.
SIMILAR TERMS--------------------------------------
Conforming loan A mortgage loan that meets all Fannie Mae and Freddie Mac underwriting guidelines.
Conformity The appraisal principle that holds that the greater the similarity among properties in an area, the better they will hold their value.
PREVIOUS AND NEXT TERMS--------------------------------------
Condominium (Condo) Individual ownership of a portion of a building, with common areas shared by all owners.
Condominium conversion Changing the ownership of an existing building (usually a rental project) to the condominium form of ownership.
Condominium hotel A condominium project that has rental or registration desks, short-term occupancy, food and telephone services, and daily cleaning services and that is operated as a commercial hotel even though the units are individually owned.
Condominium ownership An estate in real property consisting of an individual interest in an apartment or commercial unit and an undivided common interest in the common areas in the condo project such as the land, parking areas, elevators, stairways, exterior structure and so on.
Conduit An alliance between mortgage originators and an unaffiliated organization that acts as a funding source by regularly purchasing loans, usually with a goal of pooling and securitizing them
Confession of judgment clause
Conforming loan A mortgage loan that meets all Fannie Mae and Freddie Mac underwriting guidelines.
Conformity The appraisal principle that holds that the greater the similarity among properties in an area, the better they will hold their value.
Consent judgment A judge's legally binding approval of a written agreement by the parties of a lawsuit.
Conservator A guardian, protector, preserver or receiver appointed by a court to administer the person and property of another (usually an incapable adult) and to ensure that the property will be properly managed.
Consideration Anything of value given to induce someone into entering into a contract.
This dictionary contains 6433 terms. |
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