Loan To Facilitate
Definition of "Loan to facilitate"
A mortgage loan where the bank provides the mortgagor the required funds to purchase property the bank has obtained through foreclosure on outstanding mortgages. For example, John obtains a $140,000 loan enable him to purchase a home the bank has acquired through foreclosure on an outstanding mortgage.
Popular Real Estate Terms
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Claude in a contract, title, or mortgage that is subject to being annulled, repealed, or revoked upon the satisfaction of a claim or completion of a future event. ...
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Buyer who is acting in good faith, is not aware of any outstanding claims or rights of others to the property, and has given valuable consideration as part of the business transaction. ...
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