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1. equitable right of redemption
A right under state law of a defaulted borrower to redeem his or her property up to the date of the mortgage foreclosure sale by paying in full the outstanding mortgage debt.

2. facade easement
An historic preservation program agreement by which a property owner pledges to retain intact the exterior of a structure and such outbuildings and amenities that are relevant to the history or design of the structure.

3. mortgage pool
A group of mortgages assembled to form the collateral for securities. Mortgage payments of principal and interest into the pool are used to pay those who invest in the securities.

4. capital
(1) funds raised by a business through the sale of stock plus retained earnings. (2) wealth, including money and property, owned, used, or accumulated by a person or a company. (3) assets minus liabilities equals net worth or capital.

5. right of first refusal
A provision in an agreement stating that a specified party must be given an opportunity - before any others - to either accept or reject an offer. The right of first refusal may extend, for example, to the act of selling property. In this case, if and when the owner decides to sell, the property must first be offered to the specified party. Upon refusal by the specified party, the property may then be offered under the same terms and conditions to others.