Examlex
The federal funds rate is the interest rate that banks charge each other.
Mortgagor
The borrower in a mortgage agreement who pledges property as security for the repayment of the loan.
Default
Failure to fulfill a legal obligation or agreement, particularly in the context of repaying loans.
Repossess
The act of taking back an item, usually property or a vehicle, from a buyer or borrower due to failure to meet the terms of the repayment agreement.
Direct Liens
Legal claims or encumbrances upon property as security for the payment of a debt or fulfillment of a financial obligation.
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