Renewal

Importance: 0.57

Is a company: no

Is a proper noun: no

Synonyms

  • recommitment
  • recommencement
  • continuation
  • resumption
  • renewal letter

Definition of Renewal

  1. Extending an unpaid loan with the original lender when the terms of the loan expire.

Related Terms and Acronyms

  • Mortgage Renewal Definition, Very Important,
    • A renewal as it pertains to the mortgage industry is defined as having an existing mortgage term end and signing a new term to continue.
  • Contract Definition,
    • An agreement between two or more parties that can be enforced by law.
  • Acceptance Definition,
    • A property seller's formal, written approval of a buyer's offer.
  • Insurance (insur) Abbreviation,
    • An arrangement where one party provides financial protection to another party for specific damages or losses.
  • X Definition,
    • A symbol used in contracts, or other legal documents, representing where a signature should appear.
  • Loan Origination Bank,
    • The process of applying for a loan and the handling of that application by a lender.
Compare. Calculate. Apply today.
Compare Mortgage RatesMortgage CalculatorsApply for a Mortgage