Reduction Certificate
Lender's written statement and accounting for the remaining balance, date of maturity, and interest rate on a mortgage. The lender is certifying this information to the borrower or any other interested parties. The certificate may be issued when the property is sold and the obligation is being assumed by the purchaser.
Popular Real Estate Terms
A type of equity participation loan where, in exchange for charging a below-market interest rate, the lender receives a predetermined percentage of a any increase in value of the property ...
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Expenditures incurred building a structure, including material and labor. ...
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