ILOC in Mortgage Meaning
The ILOC meaning in Mortgage terms is "Irrevocable Letter of Credit". There are 1 related meanings of the ILOC Mortgage abbreviation.
ILOC on Mortgage Full Forms
- Irrevocable Letter of Credit A letter of credit in which the specified payment is guaranteed by the bank if all terms and conditions are met by the drawee and which cannot be revoked without joint agreement of both the buyer and the seller.
Frequently Asked Questions (FAQ)
What does ILOC stand for Mortgage?
ILOC stands for Irrevocable Letter of Credit in Mortgage terms.
What is the shortened form of Irrevocable Letter of Credit in Mortgage?
The short form of "Irrevocable Letter of Credit" is ILOC for Mortgage.
Citation
ILOC in Mortgage. Acronym24.com. (2020, May 24). Retrieved June 16, 2024 from https://acronym24.com/iloc-meaning-in-mortgage/
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