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Refinance
Refinance Obtaining a new loan to pay off an existing loan. Refinancing is a popular practice when interest rates drop.
RELATED TERMS--------------------------------------
Loan
A sum of borrowed money (principal) that is generally repaid with interest.
Refinancing
The process of the same mortgagor paying off one loan with the proceeds from another loan.
Interest
Money paid to a lender as compensation for money that is borrowed.
SIMILAR TERMS--------------------------------------
Refinance transaction
The process of paying off one loan with the proceeds from a new loan using the same property as security.
Refinancing
The process of the same mortgagor paying off one loan with the proceeds from another loan.
PREVIOUS AND NEXT TERMS--------------------------------------
Redemption
The process of paying off the mortgage at the end of the mortgage term.
Redemption charges - penalty
Charges made by the lender when the borrower pays off the loan.
Redemption period
A period of time established by state law during which a property owner has a right to redeem real estate after a foreclosure or tax sale by paying the sales price, interest and costs.
Redlining
The practice of refusing to provide loans or insurance in a certain neighborhood.
Reduction certificate (payoff statement)
The document signed by a lender indicating the amount required to pay a loan balance in full and satisfy the debt.
Refinance
Refinance transaction
The process of paying off one loan with the proceeds from a new loan using the same property as security.
Refinancing
The process of the same mortgagor paying off one loan with the proceeds from another loan.
Reflective coatings
A black tinted window coating. Reflective coatings greatly reduce the transmission of daylight through clear glass.
Reformation
An action by a court to revise a contract to read as it was intended by the parties to read rather than as stated.
Regional bank
A bank with a primary market in a regional or metropolitan area but takes deposits from throughout the state in which it is located.
This dictionary contains 6433 terms. |
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