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spreading agreement |
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spreading agreement A separate agreement spreading the reach of a mortgage to other properties and sometimes even to other borrowers or lenders.It was once common in New York,in particular, to use spreading agreements rather than executing new mortgages because of the ability to thereby avoid paying large mortgage recordation fees. Such loopholes have largely been closed, however. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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