Community Reinvestment Act
Definition of "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
Hollow building block whose dimensions are 8 x 8 x 16. Concrete blocks are widely used in the construction of foundations and outer walls. They provide strength and durability. ...
An assurance a loan's financial obligation will be secured by a third party. ...
Law enacted by a local authority applicable to the action of people or things. An example is a fine of $5,000 for littering vacant real estate. ...
I am the person. The person himself/herself. The actual person. ...
Personal income minus personal income tax payments and other government deductions. It is the personal income available for people to spend or save; also called take-home pay. It may be a ...
Business entity providing water services in a particular locality. ...
See historic structure. ...
Created by the US Congress in 1965, the Department of Housing and Urban Development (HUD) is the agency principally responsible for federal programs relating to housing and urban ...
Property owned and held jointly and equally shared by each spouse. It is purchased during their marriage, regardless of the wage-earning situation of either spouse. A spouse may not make a ...
Have a question or comment?
We're here to help.