Definition of "Workout"
- Trying to resolve a problem between two individuals up with some compromise or common ground. It occurs more often during times of poor economic conditions. An example is a creditor offering an accommodation to a borrower to avoid a bankruptcy situation.
- A debt which is in default but which the creditor allows the debtor to rectify by lengthening the time period of the loan, reducing the interest rate, or some other accommodation. An example is a bank that elects not to foreclosure on a mortgage because of the homeowner's nonpayment, but agrees to stretch out the payments.
Popular Real Estate Terms
One-story house with a low pitched roof often having an open floor plan. ...
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Investment companies investing in investment instruments including real estate. Mutual funds are popular to investors and represent equity in a professionally managed portfolio of ...
Major city in a metropolitan area. ...
The definition of obligee is the person to whom a debt or obligation is owed. An obligee is one party of a contract to who the other party, the obligor, is obligated. An obligee is also the ...
One who donated or gives a gift or bequest. ...
(1) An arrangement to buy real estate at a specified price and conditions. The failure to honor the commitment may result in damages. (2) Bank commitment to lend money in connection with ...
Warming method using sunlight. It involves special glass panels. ...
Also called triple net lease. The lessee pays not only a fixed rental charge but also expenses on the tented property, including maintenance. ...
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