Category: D

DEDUCTIBLE RETOTD Episode 00210

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DEDUCTIBLE The amount of cash payment that is made by the insured (the homeowner) to cover a portion of a damage or loss. Sometimes also called “out-of-pocket expenses.” For example, out of a total damage claim of $1,000, the homeowner…

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DISCOUNT POINTS RETOTD Episode 189

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DISCOUNT POINTS Points paid in addition to the loan origination fee to get a lower interest rate. In the mortgage industry, this term is usually used only in reference to government loans, meaning FHA and VA loans. Discount points refer…

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DEFERRED MAINTENANCE RETOTD Episode 00188

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DEFERRED MAINTENANCE Ordinary maintenance of a building that, because it has not been performed, negatively affects the use, occupancy, and value of the property. Also, an amount needed for repairs, restoration, or rehabilitation of an asset, but not yet expended.

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DEFAULT RETOTD Episode 00187

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DEFAULT The condition in which a borrower has failed to meet the obligations of a loan or mortgage. Failure to make the mortgage payment within a specified period of time. For first mortgages or first trust deeds, if a payment…

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DRIVE-TIME APPROACH RETOTD Episode 00119

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DRIVE-TIME APPROACH An approach to estimating the trade area and (sales/revenue potential) for a given retail establishment or center based on the central place theory concept of range and how far people are willing to travel to obtain retail goods…

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DISCLOSURE RETOTD: Episode 00022

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DISCLOSURE The making known of a fact that had previously been hidden; a revelation. In many states, a home seller must disclose major physical defects in the house within his or her knowledge, such as a leaky roof or potential…

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