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
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Use of a parcel of land that will produce the greatest current value. ...
A contract not in writing. Oral contracts are legally enforceable except for those applicable to the sale of real estate. ...
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Annual return rate of capital invested in a wasting asset. The capital is returned from the depreciating asset's earned income. ...
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Guarantee by a seller to a buyer to satisfy, for a specified time period, problems in the quality or performance of items within the home. There is usually no additional charge during the ...
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