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Term of the Day
redemption, equitable right of
redemption date
redemption fee
Definition
The
right
of the
mortgagee
to
redeem
or
get back
title
to a
property
he or she has defaulted on before the
foreclosure
sale
actually
takes
place.
Requires
the mortgagee to
pay
back payments
and
bring
the
mortgage
current.
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Popular 'Lending & Credit' Terms
equity
triple net lease
leverage
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accounts receivable
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