Outrageously Funny Word Dictionary :: Farmage

👉 A term that refers to a reduction in value of a property or asset due to depreciation, which is typically calculated by subtracting its original cost from its present market value and then dividing the difference by the original purchase price. This process helps to determine how much an asset is worth after it has been depreciated over time. In the context of real estate, farmage refers to the reduction in value of a property due to a borrower's inability to pay back their mortgage loan on time or as agreed

farmage