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Business Definition for: workout

Dictionary of Finance and Investment Terms

workout

situation, such as a bad loan or troubled firm, where remedial measures are being taken.

Dictionary of Business Terms

workout

mutual effort by a property owner and lender to avoid foreclosure or bankruptcy following a default. It generally involves substantial reduction in the debt service burden during an economic downturn.

See also distressed property

distressed property
recasting a debt

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Copyright © 2007, 2000, 1997, 1987, by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.

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