Definition of "Hangout"
That portion of a loan collaterized by a leased property extending beyond the expiration date of the lease. For example, a lending institution collaterizes a 20-year loan on a commercial property being leased by a major department store for 15-years. It is estimated the $50,000 portion of the loan remaining after the lease expires will be more than covered by the value of property.
Popular Real Estate Terms
Illegally keeping or holding on to someone else's property. An example is a tenant staying in the apartment after the lease has expired. A court order may be sought to evict the tenant. ...
Market where mortgage loans can be sold to investors. The availability of funds for financing real estate is affected by economic conditions, both local and national. The result is that at ...
Road or highway acting as a frontage boundary. ...
A mortgage where the payments are overdue and open to a foreclosure action at any time. A mortgage not having a prepayment clause permitting the mortgagor to repay the mortgage at any ...
Metropolitan locality such as a city. It is heavily populated with many residents and businesses. An example is New York City. ...
An individual's bringing a legal action against a defendant. The plaintiff wants relief from the judge against a defendant. An example is investors in a real estate investment trust (REIT) ...
Multistory, nineteenth-century house featuring turrets, high chimney, and decorative trim. ...
An estate constrained from some heirs and dedicated to others on the basis of a certain condition. ...
(1) foreclosed real estate or subject property in a bankrupt estate. (2) Income property which is making inadequate returns and has a negative capitalization rate. ...
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