Moratorium


Definition of "Moratorium"

Norma L. Rodriguez, PA <br> Broker Associate
Norma L. Rodriguez, PA
Broker Associate Berkshire Hathaway Florida Realty

  1. Delay permitted to repay an obligation. An example is when a financial institution allows a real estate company another month to repay the balance due a loan.
  2. Delay permitted to carryout a legal responsibility. An example is when a homeowner gives the contractor another two weeks to complete work beyond the contract completion date.
  3. Period of time that specified performance is not permitted. For example, a homeowner does not allow work to be done on his home during the Jewish holidays.

Have a question or comment? We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 

Search Real Estate Terms

 

Popular Real Estate Terms

Cash Flow Before Taxes

See before-tax cash flow; cash flow. ...

Convey

To sell property from one to the other and transfer all title and interest. Property is conveyed by bill of sale, contract, deed or other instrument. ...

Principal Broker

To understand what a principal broker is, we have to go back up the family tree of real estate.You do understand all brokers can be real estate agents ...

Option Listing Agreement

An Option Listing agreement is one of the many specificities of a Listing Agreement. Here’s what happens when the house seller signs an Option L ...

Secured Party

Lender who possesses the collateral of the borrower if the loan is defaulted upon. ...

Floor Loan

A minimum amount a lender is willing to provide on a commercial loan for a building designed to be tenant occupied. A floor loan is progressively fund ...

Popular Real Estate FAQ

What Is Homeowners Association (HOA)?

Homeowners association is a nonprofit association that manages the common areas of a condominium or \"planned unit development\" (PUD). Unit owners pa ...

What Is A Qualifying Ratio?

A qualifying ratio is the percentages a lender compares to see whether you qualify for a loan. ...

How Can I Figure Out My Debt-to-income Ratio?

To figure out where you stand on the debt-to-income ratio, you must first understand the meaning of the figure. Most lenders use the ratio 28/36. The ...

What Are Discount Points?

Discount points are a type of point paid by the borrower to reduce the interest rate. ...

Besides Making My Monthly Mortgage Payment, How Can I Build Equity Into My House?

When making your monthly mortgage payment, try to send a little bit more. This will go directly to the principal of the loan rather than the interest ...

What Is An Amortization?

The process of paying off a loan balance. As you make payments, a certain amount is applied to the principal and a certain amount to the interest. ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

What is Escrow and how does it Work? When to Dispute Your Home Appraisal 7 Tips for a First Time Homebuyer What do Real Estate Attorneys do? Foreclosure - The Pros and Cons of Buying

FAQ

What should I do if I'm in an accident? What is equity? What is a down payment? What is a lifetime rate cap? What is a Multiple Listing Service (MLS)?