Community Reinvestment Act
An Act, passed by congress in order to prevent the practice of redlining and disinvestments in central city areas. Redlining is a practice in which lenders refuse to make loans in certain geographic areas of a city. It is as if someone had taken a red pencil and drawn a line around the boundary of a neighborhood and said that no loans would be made in that neighborhood. Disinvestments is withdrawing funds and support of a particular neighborhood such as a riot-torn area.
Popular Real Estate Terms
fee for the cost of a loan including interest and points. Points (1 point= 1% of the total loan) are advance charges for a mortgage, whereas interest in charge over the life of the ...
A sash window having two vertically moving sashes respectively offset by sash weights. Each sash closes a different part of the window. ...
An increase in land occurring from the withdrawal of a body of water. Normally, when reliction occurs, the increase in land area belongs to the individual having water rights in the area. ...
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Highly subjective term, usually an expression of monetary worth applied to a particular piece of real estate property. ...
Place where real estate is situated. The geographic location of property affects its value. For example, real estate in a good neighborhood is worth more. ...
Removal of a tenant from a portion of a rented or leased premise. ...
Housing projects specifically designed to meet the community needs of the increasing number of individuals who are largely retired, having no small children. Adult communities are found ...
In valuing real estate, substitution is the principle that the market value of a property can be relatively accurately estimated by determining market value of similar properties in the ...
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