| Term | Definition |
|---|
| commingling | The illegal practice of combining or mixing clients' funds with the agent's own funds. |
| commission | The compensation paid to a licensed real estate broker or by the broker to the salesman for services rendered. Usually a percentage of the selling price of the property. |
| Community Reinvestment Act | The federal law which requires federally regulated lenders to describe the geographical market area they serve. Deposits from that area are to be reinvested in that area whenever practical. |
| comparables | Properties which are similar to a particular property and are used to compare and establish a value for that property. |
| compound interest | Interest which is computed on the principal and any unpaid accumulated interest. Contrast with simple interest. |
| condemnation | The act of taking private property for public use, through due process under the right of eminent domain, with compensation to the owner. |
| condominium | A form of real estate, usually a dwelling with individual ownership of separate portions of the building plus shared ownership of the common areas. |
| consideration | The price or subject matter, which induces a contract; may be in money, commodity, exchange, or a transfer of personal effort. |
| constructive eviction | The provision of housing that is so substandard that, for all intents and purposes, a landlord has evicted the tenant. For example, the landlord may refuse to provide light, heat, water or other essential services, destroy part of the premises or refuse to clean up an environmental health hazard, such as lead paint dust. Because the premises are unlivable, the tenant has the right to move out and stop paying rent without incurring legal liability for breaking the lease. Usually, the tenant must first bring the problem to the landlord's attention and allow a reasonable amount of time for the landlord to make repairs. |
| Consumer Credit Counseling Service (CCCS) | A national non-profit agency that, at no cost, helps debtors plan budgets and repay their debts. One major criticism of CCCS is that each office is primarily funded by voluntary donations from the creditors that receive payments from debtors repaying their debts through that office. The goal of CCCS is to insure that consumers repay the debts that they owe. CCCS may arrange easy payment plans that increase the chances for repayment, but harm a consumer's credit in the process. Agreeing to a payment plan and following it to the letter may not stop creditors from reporting delinquent repayment information to credit bureaus for each month the payment falls short of the previous minimum amount. |
