Debt


What is Debt?

An amount of money owed to another. See installment loan and revolving liability. In real estate, debt often refers to loans taken out to purchase or refinance property, such as mortgages or home equity lines of credit. This financial obligation must be repaid under agreed-upon terms, typically with interest, over a set period. Managing debt responsibly is essential for maintaining creditworthiness and securing future real estate financing.

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