CEILING >> The highest interest rate that may be assessed or an adjustable-rate loan during the life of the loan based on the start rate and lifetime cap.

CERTIFICATE OF OCCUPANCY >> A certificate issued by a local city government to the property owner stating the building is in proper condition to be occupied.

CERTIFIED COPY >> A copy attested to be true by the individual or entity holding the original.

CHANGE DATE >> This is a date established in an adjustable rate loan contract when a new interest rate will be assessed. Also known as adjustment date.

CHAPTER 13 BK >> Chapter 13 is a debt reorganization plan where debts are repaid under a court-supervised repayment plan. Debtors submit part of their income for distribution among creditors. Also known as the wage-earner plan.

CHAPTER 7 BK >> A Chapter 7 BK is a straight liquidation bankruptcy where the debtor submits all of their non-exempt assets to the trustee for liquidation; proceeds are disbursed to creditors.

CHARGE-OFF >> A delinquent credit account with a balance owed that was never fully satisfied and the creditor removed it from the books for accounting purposes even though the debtor still owes payment in full.