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Draws
Draws 1) An advancement of money against future earnings. 2) Periodic advances of funds under a construction loan agreement.
RELATED TERMS--------------------------------------
Advances
Payments made by the servicer when the borrower fails to make a payment.
Loan
A sum of borrowed money (principal) that is generally repaid with interest.
SIMILAR TERMS--------------------------------------
Draw
A payment, made periodically, to a construction contractor or subcontractor as work progresses. A draw is part of a construction loan.
Draw period
On a line of credit, the draw period is the fixed time when a borrower can make withdrawals from the account.
PREVIOUS AND NEXT TERMS--------------------------------------
Downzoning
A change in zoning from a higher to a lower classification or from a more active to less active classification, such as from residential to conservation, or multifamily to single-family use.
Dragnet clause
A clause in a mortgage or deed of trust which places the real estate as security for existing debts between the parties.
Drainage
A system of gutters and drainpipes that carry water away from the foundation of a house.
Draw
A payment, made periodically, to a construction contractor or subcontractor as work progresses. A draw is part of a construction loan.
Draw period
On a line of credit, the draw period is the fixed time when a borrower can make withdrawals from the account.
Draws
Dropped ceiling
A flat ceiling built lower than the original ceiling.
Dry rot
A fungal decay that causes lumber to crumble.
Drywall
A construction material used as a basis for interior walls in a home.
Dual agency
An agency relationship in which the agent acts concurrently for both principals in a real estate transaction.
Dual agent
An agent representing both parties in a transaction.
This dictionary contains 6433 terms. |
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