Impaired Credit


Definition of "Impaired credit"

Decline in the credit status of a prospective homebuyer.

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Popular Real Estate Terms

Rafter

One of a series of inclined structural supports supporting a roof. ...

Land Residual Technique

Technique used to estimate how the value of a parcel of land will affect its ability to support a given commercial improvement leaving sufficient resi ...

Nuisance

An activity by a property owner annoys or seriously disturbs other property owners making it discomforting to use their own property. A wide range of ...

Pocket License Card

Pocket-sized real estate license issued for brokers and salespersons by most states. Identifies the person as a real estate licensee. ...

Functional Utility

A property's usefulness to the owner or lessee. For example, room size may be sufficient to a professional who wants to use his house also as an offic ...

Equity Of Redemption

Borrower's right to redeem his property by immediately paying off the loan balance and any related costs. ...

Popular Real Estate FAQ

What Is A Loan Origination Fee?

A loan origination fee is a fee charged by the lender-usually 1 percent of the loan amount. ...

What Is A Counteroffer?

A counteroffer is an offer made by one party that makes changes to the original or latest offer of the other party. ...

What Is Depreciation?

Depreciation is a decline in the value of property due to general wear and tear, or is also known as an annual allowance that helps you recover on you ...

What Is A Proprietary Lease?

A proprietary lease is lease used for co-ops that give the shareowners the right to live in a particular unit. ...

What Is A Contingency?

A contingency is a provision included in a sales contract stating that certain events must occur or certain conditions must be met before the contract ...

Is Depreciation Common?

Generally, real property never depreciates in value, or more so, it is not very common for property to depreciate. This is why it\'s a great investme ...

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