Period of time during which a property owner can pay all defaulted payments and charges and redeem a defaulted mortgage or land contract. The time period varies as established by state statute.
Redevelop
The rebuilding of an area with new structures after demolition and removal of the existing structures.
Redlining
The denying of credit or insurance to people base on ethnic background or neighborhood. This practice is illegal.
Redress
Compensation or restitution for a wrongdoing.
Reducer
A fitting that connects pipes of different sizes together.
Reducer strip
A teardrop shaped molding accessory for hardwood flooring, normally used at doorways, but sometimes at fireplaces and as a room divider. It is grooved on one edge and tapered, or feathered, on the other edge. Various lengths are available.
Reducing atmosphere
An atmosphere used to deoxidize metal oxides at high temperatures during refining.
Reducing closet bend
A right-angled plumbing fitting that connects to a water closet.
Reduction certificate
Certification in writing, by the lender, of the remaining balance, date of maturity and interest rate on a mortgage that is often given when the property is sold and the mortgage is being assumed by the purchaser.
Redwood
A sturdy wood that is extremely resistant to insects and weather-related deterioration, commonly used for outdoor decks and siding.
