|
| | |
Subrogation
Subrogation The substitution of one creditor for another, with the substituted person succeeding to the legal rights and claims of the original claimant.
RELATED TERMS--------------------------------------
Substitution
An appraisal principle that states that the maximum value of a property tends to be set by the cost of purchasing an equally desirable and valuable substitute property, assuming that no costly delay is encountered in making the substitution.
Creditor
The person to whom a debtor owes a debt or obligation; a lender.
SIMILAR TERMS--------------------------------------
PREVIOUS AND NEXT TERMS--------------------------------------
Subordination agreement
A written agreement between lienholders to change the priority of mortgage, judgment and other liens.
Subordination clause
A clause in which the holder of a mortgage permits a subsequent mortgage to take priority.
Subprime borrower
A borrower with a less-than-perfect credit report due to late payments or a default on debt payments.
Subprime lenders
Lenders who specialize in B, C, or D catagory paper.
Subprime mortgage
A mortgage granted to a borrower considered subprime, that is, a person with a less-than-perfect credit report. Subprime borrowers have either missed payments on a debt or have been late with payments.
Subrogation
Subscribe
1) To give, pay, or pledge (a sum of money) as a contribution, investment, etc. 2) To append one's signature or mark to (a document), as in approval or attestation of its contents.
Subscribing witness
The witness to the execution of an instrument who has written his name as proof of seeing such execution.
Substitute of trustee
A document which is recorded to change the trustee under the deed of trust.
Substitution
An appraisal principle that states that the maximum value of a property tends to be set by the cost of purchasing an equally desirable and valuable substitute property, assuming that no costly delay is encountered in making the substitution.
Substitution of entitlement
Replaces one eligible veteran with another on an existing Veterans Administration loan.
This dictionary contains 6433 terms. |
|
|
