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Crisis denialists are still around but are slowly and grudgingly giving way to the reality that global capitalism is in serious crisis as recession lurches toward depression in a continuing downward spiral. Nearly every new data release confirm it ...

Today's Mortgage Terms starting with N

Notice of Default: A step in the foreclosure process in which the lender formally informs the court that the borrower is in late in payments.

Non-Assumption Clause: A provision in a mortgage contract preventing the assumption of the mortgage by another borrower without the lenders permission.

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