Definition
Reconveyance
The instrument recorded when a deed of trust is satisfied, releasing the lien and returning clear title to the owner.
Nearby terms
Rate Lock
A lender's commitment to hold a quoted rate for a defined period regardless of market movement.
Recast
Re-amortizing an existing loan after a lump-sum principal payment, lowering the payment while keeping the rate and payoff date.
Recording
Entering a document into the public land records, which establishes priority among competing claims.
Reserves
Liquid assets remaining after closing, expressed in months of housing payments.
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