Glossary entry (derived from question below)
English term or phrase:
pick up the drag
English answer:
pay for the difference (deficit)
English term
pick up the drag
Jul 16, 2009 11:20: Michael Powers (PhD) Created KOG entry
Jul 16, 2009 11:21: Michael Powers (PhD) changed "Field" from "Art/Literary" to "Bus/Financial" , "Field (specific)" from "Other" to "Business/Commerce (general)"
Responses
pay for the difference (deficit)
Mike :)
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Note added at 2 days16 hrs (2009-07-16 11:20:19 GMT) Post-grading
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You're welcome.
absorbs the difference
In case the proceeds are not sufficient to pay off the loan, the lender absorbs the difference.
If the proceeds are not enough to pay off the loan, then the bank (or insurance which the bank has on the loan) absorbs the difference.
http://www.e-personalfinance.com/article/How-Does-a-Reverse-Mortgage-Work.html
http://home.answerbox.net/garden-search-accumulating-396545324.htm
Thanks alot! |
cover the delay/bridge the gap
Thanks alot! |
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