Community Reinvestment Act
An Act, passed by congress in order to prevent the practice of redlining and disinvestments in central city areas. Redlining is a practice in which lenders refuse to make loans in certain geographic areas of a city. It is as if someone had taken a red pencil and drawn a line around the boundary of a neighborhood and said that no loans would be made in that neighborhood. Disinvestments is withdrawing funds and support of a particular neighborhood such as a riot-torn area.
Popular Real Estate Terms
In a construction loan, payments made to a contractor as the various construction stages are completed. The contractor uses progress payments to pay the various subcontractors and suppliers ...
Document issued by a public or private institution to perform some activity according to legal requirements. There is usually a license fee. An example is a real estate license. ...
Government official who values real estate property for tax purposes and ascertains the annual property tax assessments that must be collected. ...
Lien on a given property, such as an person's house as a collateral for a loan. ...
Outside of a structure covering a lower quality or cheaper surface to make the structure look better. Examples of veneer exteriors are bricks covering concrete, or a thin surface layer of ...
Has not been registered on the companies books. It belongs to the person holding it. See also bearer bond; bearer instrument. ...
A person who dies without a will and having unknown intentions regarding his estate. In such case, a court administrator is typically appointed to act as an executor in distributing any ...
making land more beautiful to look at by adding improvements such as lawns, trees, and bushes. Increases the value of the property. ...
The economic indicators that trail behind aggregate economic activity. Six lagging indicators issued by the government consisting of unemployment rate, corporate expenditures, labor cost ...
Have a question or comment?
We're here to help.