Related Words

Loan Term: Length of time until your loan is due and payable.

Term: The period of time during which loan payments are made. At the end of the loan term, the loan must be paid in full.

Recourse Loan Program: Under the FAIR Act of 1996, recourse loans are available to producers of high moisture corn and seed cotton, dairy processors, and sugar processors. The commodity is pledged as security, but . . . View Full Definition

Range Betterment Fund: Money collected from livestock grazing on federal lands and used for rangeland improvements. The Bureau of Land Management calls these funds Range Improvement Funds and uses them solely for . . . View Full Definition

Reduction-Option Loan (ROL): A hybrid of a fixed-rate and adjustable-rate mortgage. An ROL the borrower to match the current mortgage rate, which then becomes fixed for the rest of the term. This reduction is usually al . . . View Full Definition

Quick Release (Terminal): A means for securing a wire conductor to a terminal connector that permits easy attachment and removal. In the usual form, this will involve a spring-loaded clip, which needs only to be pres . . . View Full Definition

Renewable Term Life Insurance: A policy for a stated period that may be renewed if desired at the end of the term.

Retirement Of Long-Term Debt: The repayment of a non-current liability.

Rescheduled Loans: Bank loans that are usually altered to have longer maturities in order to assist the borrower in making the necessary repayments.

Renewable Term: A renewable term life insurance policy allows you to extend your coverage for an additional period without having to requalify for coverage, provided that you have paid your premiums in full . . . View Full Definition