The Chicago Commercial Mortgage Group targets the needs of commercial investors.

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Word Definition
Installment Sale A tax term used to describe a sale wich is usually accomplished by use of a land contract. If the seller receives less than 30% of the sale price in the year of the sale (not including interest), the tax on the profit (gain) from the sale may be paid over the installment period, provided the 30% rule is followed each year.
Insured Mortgage A mortgage insured against loss to the mortgagee in the event of default and a failure to the mortgaged property to satisfy the balance owing plus costs of foreclosure.
Interest Rate The percentage of an amount of money which is paid for its use for a specified time. Usually expressed as an annual percentage rate.

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