Offset

Deductions to pay a debtThat which is due from one person or another; obligation, liability. owed to the AgencyThe Rural Housing Service or its successor agency within the Rural Development mission area of the U.S. from a borrowerPerson responsible for repaying a loan who has signed and agreed to the terms in the promissory note.'s retirement benefitsThe amount payable by the insurance company to a claimant, assignee or beneficiary under each coverage, salaryFixed compensation paid regularly for services., income taxA tax on income. refundAn amount paid back because of an overpayment or because of the return of an item previously sold., or payments from other Federal agencies to the borrower. Deductions from retirement benefits and salary generally apply only to current and former Federal employees.

Offset

Liquidating a purchase of futuresSee Futures Contract. contracts through the sale of an equal number of contracts of the same delivery monthThe specified month within which a futures contract matures and can be settled by delivery or the specified, or liquidating a short salean instance where a borrower sells residential real property to a third party prior to a foreclosure of futures through the purchase of an equal number of contracts of the same deliveryThe tender and receipt of the actual commodity, the cash value of the commodity, or of a delivery instrument month. See ClosingThe process of completing a financial transaction. For mortgage loans, the process of signing mortgage Out and Cover(1) Purchasing futures to offset a short position (same as Short Covering); see Offset, Liquidation;.