Popular Mortgage Terms

Condominium Defined

Condominium: a form of ownership in which individuals purchase and own a unit of housing in a multi-unit complex; the owner also shares financial responsibility for common areas

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The definitions of the mortgage terms have been taken from various reliable government
publications and we have done our best to verify their accuracy. If you feel any of the definitions
are incorrect or needs to be updated please contact us and we will look into it.

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