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Special deposit account
Rehabilitation mortgages require a special deposit account from which restoration and remodeling funds included in the loan are disbursed to the appropriate contractors as work is completed.
Related Terms
Trust account
Verification of deposit
Escrow account
Escrow
Certificate of Deposit (CD)
Special assessment
Homeowners' warranty
Straight purchase
Employer-assisted housing
Deposit
Earnest money
Reverse mortgage
Contingency listing
Individual Retirement Account
Cashier's check
Variable interest rate
Escrow payment
Mortgage life insurance
Private mortgage insurance (PMI)
Escrow analysis
Impounds
Certificate of deposit index
Money market account
Liquid assets
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