A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

	Rate (interest) The return the lender receives for loaning the borrower the money for the mortgage. Redemption The buying back of a mortgage estate by payment of the sum due on the mortgage.
	Refinance To pay in full and discharge a mortgage and any other registered encumbrances and arrange for a new mortgage with the same or a different lender.
	Renegotiate To change the terms and conditions of a mortgage agreement prior to maturity. Renegotiation occurs with the lender who currently holds the mortgage.
	Renewal Agreement An agreement whereby the lender may agree to extend the term of the loan, but possibly on revised terms as to principal repayments and interest rate.
	Reserve Fund A fund set up by a condominium corporation for major repairs and replacement of such items as the roof, elevators, plumbing, heating systems, etc. All condo corporations, by law, require a reserve fund.
	Roll-Over Mortgage A mortgage loan where the interest rate is established for a specific term. At the end of this term the mortgage is said to "roll over" and the borrower and lender may agree to extend the loan. If satisfactory terms cannot be agreed upon, the lender is entitled to be repaid in full. In this case, the borrower may seek alternative financing.