Obligation bond

Mortgage bond whose face value exceeds the value of the underlying Property, and for which a personal Obligation is created to compensate the Lender for any costs that may exceed the value of the Mortgage.

Related Terms: 5 Lend, Lender, Mortgage, Obligation, Property

Other Related Pages: Category: Bonds Starting With: O

Additional Related Terms: Accelerated Cost Recovery System, Accredited Personal Financial Planning Specialist, Acquisition cost, Allowance for depreciation, Accreted value, Accrual bond, Accrual of discount, Accumulation bond, Agency bond, American Municipal Bond Assurance Corporation