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Popular Real Estate Glossary Terms
Mortgage placed on a property after a previous mortgage. It can be a second, third, etc. mortgage. A junior mortgage is subordinate to the terms of a previous mortgage. Junior mortgages ...
(1) Sudden and dramatic increase in activity or prices. (2) Rapid economic prosperity. ...
Joining together of two or more business entities or persons in order to undertake a specific business venture in a real estate. A joint venture is not a continuing relationship such as a ...
External top of a structure such as for an office building or house. ...
A guarantee of the performance of a contractor. In general, contract bonds are used to guarantee that the contractor will perform according to the specifications of the construction ...