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| Redemption period
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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
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The rebuilding of an area with new structures after demolition and removal of the existing structures. |
| Redlining
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The denying of credit or insurance to people base on ethnic background or neighborhood. This practice is illegal. |
| Redress
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Compensation or restitution for a wrongdoing. |
| Reducer
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A fitting that connects pipes of different sizes together. |
| Reducer strip
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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
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An atmosphere used to deoxidize metal oxides at high temperatures during refining. |
| Reducing closet bend
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A right-angled plumbing fitting that connects to a water closet. |
| Reduction certificate
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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
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A sturdy wood that is extremely resistant to insects and weather-related deterioration, commonly used for outdoor decks and siding. |
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