Definition: The loan term specified in the document you provided appears to be a mortgage, which refers to an agreement between a borrower (the homeowner) and a lender (a financial institution or other entity) for the financing of home ownership. The mortgage typically involves providing funds to cover the purchase price of the home plus any down payment required by the bank or other lender. A "mortgage without tax returns" is a term used in finance that describes a situation where there is no requirement from the borrower to provide tax returns related to their income and expenses while making payments on a mortgage. In this context, the loan term specified in the document you provided refers to the length of time for which the borrower must repay the interest or principal amount on the mortgage. This could imply that the borrower does not need to file any financial returns, such as tax returns, since they are essentially making no additional payments beyond their agreed-upon monthly payment. This is a common practice in many countries and may be legal under certain conditions, but it's important for borrowers to understand the implications of this type of situation before taking out a mortgage. The specific definition of "mortgage without tax returns" would depend on the context in which it is used and the laws and regulations applicable within that jurisdiction.
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