Examlex
Explain the three functions of distributable net income (DNI).
Market Value
The current price at which an asset or service can be bought or sold in a fair and open market.
Right To Foreclose
The legal right of a lender or mortgage holder to seize property in the event of nonpayment of debt.
Mortgage Loan
A loan secured by the collateral of some specified real estate property, which the borrower is obliged to pay back with a predetermined set of payments.
Default
Failure to fulfill a legal obligation or agreement, typically in the context of a loan or contractual payment.
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