Moratorium


Definition of "Moratorium"

  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.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

Subrent

Process by which a lessee rents his apartment to another. ...

Licensee

Individual permitted to enter property with the permission of the owner or the person who controls t ...

Waterfront Property

Residential or office structure adjacent to water such as a lake. Such property has a higher value b ...

Cooperative Apartment

Apartment building in which each resident owns a percentage share of the corporation that owns the b ...

National Safety Council

Nonprofit organization of members of various industries nationwide that collects and publishes infor ...

Financial Insurance

Structured product designed to meet specific needs of the insured that may involve any of the follow ...

Related Real Estate FAQ

What Is A Contingency?

A contingency is a provision included in a sales contract stating that certain events must occur or ...

What Is A Home Warranty?

A home warranty is a guarantee for certain features of a new home-for instance, the materials and wo ...

What Is A Private Mortgage?

Private mortgage insurance is insurance that protects mortgage lenders against default on loans by p ...

What Is A Rate Lock?

A rate lock is a commitment issued by a lender to a homebuyer or to the mortgage broker guaranteeing ...

What Will My ARM Loan Payment Be ?

RealEstateAgent.com calculator will compute your initial payments and estimate your future payments. ...

Should I Consolidate My Debt?

Discover your potential monthly savings by combining your bills into a single source. Eliminate high ...

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 Hazard Insurance? When to Dispute Your Home Appraisal 5 U.S. Cities with the Best Public Transportation Real Estate Open House - The Dos and Don Is it better to buy or sell a home first

FAQ

What is a loan-to-value (LTD) ratio? What is a seller takeback? What is a front-end ratio? What is homeowners association (HOA)? What are the Benefits of Liability Insurance?