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
Book value is a quintessential term used in the financial world and the real estate business. Though, there are slight differences in its interpretation in these two areas of ...
Street having access only at one end and terminating with a circular turnaround area. The circular area permits automobiles to exit the street without having to use a home's driveway to ...
When you hear the term annuity, you’re often left wondering what is an annuity? The simplest annuity definition is a financial product designed to ensure cash flows at equal intervals ...
Structure of prefabricated units. ...
Contract that intends to convey property form one individual to another but is defective in one respect. ...
Method of selling and obtains possession, but the seller retains the title. ...
Same as term Veterans Administration Mortgage: Mortgage guaranteed up to 30 years by the Veterans Administration to veterans meeting minimum requirements. Originally established by the ...
Interest rate on a mortgage that moves up or down based on some variable such as an index of lender's cost of funds, inflation rate, or prime rate. ...
Conversion of real property into money. The breaking up and selling of a real estate company for cash distribution to its creditors and then owners. Chapter 7 of the Federal Bankruptcy ...
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