Confession Of Judgment


Definition of "Confession of judgment"

Barbara Snyder
  Signature Real Estate Gorup

Provision in a credit contract specifying that if the lender sues the borrower for late payments, the borrower accepts guilt in advance, irrespective of the reason for nonpayment.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

Moving Average Rating Method

Procedure, in insurance, used in time series analysis to smooth out irregularities in projections of ...

Right Of Entry

Right to enter and start construction or furnishing property that is in the process of being purcha ...

Release Clause

In a mortgage, a provision that allows part of the security to be released from any further lien ob ...

Damages

Sum the insurance company is legally obligated to pay an insured for losses incurred. ...

Payroll Deduction Insurance

Plan under which an employee authorizes his or her employer to deduct from each paycheck premiums du ...

Builders Risk Hull Insurance

Property coverage for a builder of ships until possession passes to the owners. Protects against pre ...

Related Real Estate FAQ

What Is A Loan-to-value (LTD) Ratio?

A loan-to-value ratio is used by lenders to state how much you have financed. If you put down 20 per ...

What Is A Convertible ARM?

A convertible ARM is an adjustable- rate mortgage (ARM) that can be converted into a fixed rate mort ...

What Is A Survey?

A survey is an examination of a property\'s boundaries to determine the quantity of land, location o ...

What Is An Escrow Officer?

An escrow officer - also known as a loan officer - is the person that walks you through the closing ...

What Is An APR And What Does It Include?

An APR stands for an ANNUAL PERCENTAGE RATE. This rate includes the costs of any points paid, mortga ...

What Is Disability Insurance?

Line of insurance, which included coverages that are designed to protect the insured against a loss ...

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

Agents join here
Add our widget on your Website

Real Estate Advice

7 Tips for a First Time Homebuyer How To Choose A Realtor What is Earnest Money Build or Buy? That’s the Big Question Is it better to buy or sell a home first

FAQ

What do I need to know about Indemnity Insurance? What are my coverage options? What is a loan-to-value (LTD) ratio? What is a buyer's agent? Who is a subagent?