Mortgage Information | Student Loans | Auto Loans
Mortgage and Loan Terms Glossary | Doc Loan Home
 
Free Loan Advice and Financial Information  
 
Browse by Letter
   
   
   
   
   
   
   
   
   
   
 

Loan and Mortgage Terms Glossary

Confession Of Judgment:

A clause in a loan contract providing that the borrower waives the right to be notified and the right to be heard in court if the lender brings suit and obtains a judgment against the borrower in the event of a default. This credit practice was prohibited by regulation in 1985.


 
     
 
Contact | Advertising Information | Other Resources

Copyright 2002-2006 DocLoan.com