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
Law of the state establishing guidelines and requirements for constructing buildings. The standard may differ between the states. ...
Invests in rental property but does not manage that property. ...
People often bump into the question: "What is the statute of limitations?" So, let's shed light on the statute of limitation definition in simple words! A statute of limitations is like a ...
Giving one's approval to another, e.g., a fiduciary, to manage his or her finances. ...
Representation on a flat surface of any region that depicts the elevation of that region. ...
Financial statement with amounts or other information that are completely or partially assumed. The assumptions supporting the amounts are usually provided. The statement may be prepared in ...
People can use the term disclosure in ordinary day to day activities. The definition of disclosure is to expose yourself, to show the truth without omitting any important information. ...
Mortgage for an extended time period (e.g., 25 years) Type of real estate investment trust (REIT) that gives long-term mortgages to real estate developers and contractors on new or ...
An insect, such as a termite, that "eats into" the wood and destroys it. This can cause significant damage to the home. Most states have laws that require termite inspection and ...
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