Rule Of 78
Definition of "Rule of 78"
Also called the Rule of the Sum of the Digits. An approach that bank use to formulate a loan amortization schedule. It results in a borrower paying more interest in the beginning of a loan when he/she has the use of more of the money, and less interest as the obligation is reduced. Interest can be saved by preparing the loan.
Popular Real Estate Terms
Percentage of rentals estimated not to be made because of actual and anticipated vacancies. ...
property that has been segregated into parts. ...
Person who dies leaving a will specifying the distribution of the estate. ...
Written proposals and acceptances applicable to the aspects of the transaction. The escrow agent must follow the purchase and sale agreement. ...
Individually owned lots and houses with community ownership of common areas. ...
Tenant breaks the lease because the landlord does not keep the premises habitable. ...
The right to demand that title be conveyed upon payment of the purchase price. ...
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See savings and loan association. ...
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