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Popular Real Estate Questions

Popular Real Estate Glossary Terms

A graduated payment mortgage (GMP) developed to overcome the negative amortization aspects of the GMP. The key to the FLIP mortgage is the use of the buyer's down payment. Instead of being ...

Functional utility in real estate typically defines a property’s usefulness to the homeowner or lessee. The more purposes it can fulfill, the better. For instance, you can call a ...

An individual or business that buys someone else's equity in property but may not assume any responsibility for a loan balance. ...

Personal view regarding how losses occur and the validity of loss prevention and reduction; also, whether an individual is a risk taker or a risk avoider. For example, if a driver takes the ...

Written notice, to be submitted by the claimant, required by the insurance company in the event of an insured peril. This notice is part of the standard property and casualty insurance ...