When a borrower falls behind in mortgage payments, many lenders will negotiate a repayment plan rather than go to court. …
Replacement Cost
The current cost of rebuilding a structure to its original specifications. …
Replacement Reserve Fund
Money that is set aside from homeowners' assessments to replace common property such as furniture in a planned development's community room. …
Repointing
Replacing damaged mortar in the joints between bricks or stones. …
Repossess
To take back property. A lender holding a mortgage may repossess a property if the buyer fails to make payments. …
Resale Value
A property's future value, which can be affected by many factors including the surrounding neighborhood, school district scores, and economic and housing market conditions. …