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DEPRECIATION
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decline in the value of property; the opposite of
appreciation. Depreciation is also an accounting term which
shows the declining monetary value of an asset and is used
as an expense to reduce taxable income. Since this is not a
true expense where money is actually paid, lenders will add
back depreciation expense for self-employed borrowers and
count it as income. |
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BACK TO GLOSSARY |
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Simplicity
Mortgage - 6180
E. State Street, Suite #5 - Rockford, IL.
61108
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