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
Suppose you wish to sell your property fast and expect a high return on investment. In that case, it would help to reach out to expert local real estate agents who undertake the job of ...
Rule within the Internal Revenue Code applicable to capital gains from selling real estate that has been depreciated for tax purposes. Most buildings must be depreciated using the ...
Drawing for the entire structure or part of it that is detailed and in scale so that engineers and construction workers may readily follow it. ...
Claim on property by an unpaid workman or contractor. The property may be sold to recover the money owed. The legal justification of the mechanic's lien is that the labor and materials ...
Individual making the payments in a mortgage or pledging a mortgage or property. ...
Primary residence of an individual. The principal residence can be a single family home, condominium, cooperative, or trailer. A principal residence may qualify for a homestead exemption in ...
Property tax that varies in rate depending on the zoning classification (use) of the property. ...
Part of a building that is connected to but leads away from the main structure. ...
Letter sent an individual informing him or her they are in default on an agreement. Normally, a notice of default will give the defaulting party the terms necessary to remedy a default and ...
Have a question or comment?
We're here to help.