Certificate of Claim

Definition

A contingent promise to reimburse an insured lender for costs resulting from a foreclosure.

Use this term in a sentence

You should make sure that you always keep your certificate of claim in a safe place that you can get to easily.

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The Certificate of Claim was exercised when the home foreclosed and the costs were about twenty percent of the homes value.

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They got a certificate of claim and thought it was really cool because it was a promise and not something that could be betrayed.

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Certificate of Authority certificate of completion