Direct Reduction Mortgage (DRM)
Definition of "Direct reduction mortgage (DRM)"
A fully amortized mortgage necessitating periodic payments of both interest and principal. In the early years of the loan, the share of principal is smaller and the interest larger, a condition that gradually reverses as the end of the period approaches. The periodic payment may also consist of taxes and insurance.
Popular Real Estate Terms
Measure of land representing one square mile. A section equals 640 acres. ...
Any person, company, or legal entity who signs a check or note to borrow money. By signing a payment instrument, the maker assumes full financial responsibility. For example, John is the ...
Trying to resolve a problem between two individuals up with some compromise or common ground. It occurs more often during times of poor economic conditions. An example is a creditor ...
Local regulation on how real property may be used in a particular locality. The county may establish different zoning classifications and restrictions. If the ordinance is violated, ...
Helps in supporting a building. ...
Purchase of part of property or property rights when condemnation takes place. The owner must be justly reimbursed. ...
Evaluation of the dimensions of a building to determine its ability to meet the needs of the occupants. ...
Modification made by a municipality to the zoning of a locality. A change in zoning typically has to be requested and approved by a zoning commission and then the legislative body. It can ...
Legal action of a landlord to remove a tenant.The tenant may have violated the lease agreement such as for the tenant's failure to pay the rent. ...
Have a question or comment?
We're here to help.