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
Existing state of affairs with respect to the real estate market and conditions. ...
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Roof having a concave angle. ...
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Sometimes, a perplexing legal term (a genuine headscratcher) emerges when buying or selling a property. You know you should know it, but its precise definition escapes you. Today's special ...
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