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Replacement reserves
Monthly deposits that a lender may require a borrower to a reserve in an account, along with principal and interest payments for future capital improvements of major building systems; i.e., HVAC, parking lot, carpets, roof, etc.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Real estate
- Category: General
- Company: Coldwell Banker
- Product:
- Acronym-Abbreviation:
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