Contract Chicanery

Definition of "Contract Chicanery"

Inserting provisions into a loan contract that severely disadvantage the borrower, without the borrowers knowledge, and sometimes despite oral assurances to the contrary. Prepayment penalties are perhaps the most frequently cited subject of such abuse.

Search Real Estate Glossary

Related Real Estate Glossary terms

Income Replacement

Benefit in disability income insurance whereby an injured or ill wage earner receives a monthly inco ...

Finish Out Allowance

Provision in a commercial lease providing a financial allowance for a tenant to finish the interior ...

Moisture Barrier

Layer of material put on the outside wall or foundation to prevent the intrusion of water or humidit ...

Past Due Accounts

Funds receivable or payable that have not been paid in a timely manner, commercial credit insurance ...

Acknowledgment

Proclamation by an authorized official verifying the individuals signing a document or deed and that ...

Deviation Policy

Insurance policy that differs from the standard form. ...

Related Real Estate FAQ

What Are Closing Costs?

Closing costs are expenses incurred by buyers and sellers in transferring ownership of a property. ...

What Is A Mortgage Broker?

A mortgage broker is an intermediary who ensures a loan between a borrower and lender. The broker ta ...

What Is A Proration?

A proration is the division of certain fees. If the sellers have paid the taxes six months in advanc ...

What Is A APR Loan?

This APR Calculator can be used to estimate the Annual Percentage Rate for a loan based on input par ...

What Is A Lease Purchase Mortgage?

A lease purchase mortgage is a financing option that allows potential homebuyers to lease a property ...

What Does An Appraisal Mean?

An appraisal is an estimate of the value of a certain property by a qualified, independent individua ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

Why Use a Real Estate Agent? When to buy a house Is it better to buy or sell a home first How Does The Home Loan Underwriting Process Work? How is Square Footage Determined?

FAQ

What is Loan Amortization? What are paid advertorials? What if they no longer make my specific computer? What is a mortgage banker? What is a second mortgage?