Loan Applicant.

Loan Applicant.

REFINANCING — The paying-off of an existing obligation and assuming a new obligation in its place. To finance anew, or extend or renew existing financing. REFORMATION — An action to correct a mistake in a deed or other document. REHABILITATION — The restoration of a property to satisfactory condition without drastically changing the plan, form or style of architecture. generally organized to conform to the Internal Revenue Code. RELEASE CLAUSE — A stipulation that upon the payment of a specific sum of money to the holder of a trust deed or mortgage, the lien of the instrument as to a specifically described lot or area shall be removed from the blanket lien on the whole area involved.