The absolute bar rule prohibits a creditor who disposes of collateral in a commercially unreasonable manner from obtaining a deficiency judgment.
For example:
§ 9-610 of the Uniform Commercial Code (UCC) codifies the...mortgages
adjustable rate mortgage (ARM)
Adjustable rate mortgage (ARM) is a type of mortgage where the interest rate changes over time. In contrast, fixed rate mortgages made for 15, 20, or 30 years have a set amount of interest on the loan that does not change. ARMs come in many...
adjustment date
Adjustment date is the date on which a financial term of a contract or transaction is set to change. In real estate, it usually refers to the date on which the interest rate of an adjustable rate mortgage (ARM) changes. An ARM’s interest rate...
adjustment period
Adjustment period is the time within which the interest rate on an adjustable-rate mortgage (ARM) can reset. It is the scheduled amount of time between each adjustment date.
Adjustment periods are set at month-to-month, semi...
alienable
Alienable means transferable.
An interest in property is alienable if it may be conveyed by one party to another. In general, all private property is alienable unless some contractual, common law, or statutory restriction...
appraisal
An appraisal is the process by which the value of an item or property is determined. This is necessary in a variety of contexts. One common instance is in the purchase, sale or refinancing of homes or other real estate. Appraisals are also...
appraise
To appraise is to determine the value of an object or piece of property. This is done by an expert called an appraiser, the result of this action called an appraisal. This is necessary in a variety of contexts, such as the purchase, sale or...
appraiser
An appraiser is an expert hired to examine an object or piece of property to determine its value. This determination is called an appraisal, and is commonly required for the purchase, sale, or refinancing of real estate or to gain insurance...
appreciate
Appreciate means to increase in value (the opposite of depreciate). It may also mean: to understand or recognize the value or significance of something or someone.
See also: appreciation.
[Last updated in June of...
appreciation
Appreciation is an increase in an asset’s value, usually due to inflation or other external economic factors (the opposite of depreciation).
In more common parlance, appreciation may also be recognition or understanding of...