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Popular Real Estate Glossary Terms
Amount received by a seller of real property in the form of credit rather than cash. Interest is typically received on the note. If a house is sold for $300,000 of which $100,000 is cash ...
Insurance in force previous to the present insurance policy. ...
The dollar amount of interest paid each month. The interest payment is the same as interest due so long as the scheduled mortgage payment is equal to or greater than the interest due. ...
Coverage made available to residents of a community on a subsidized and nonsubsidized premium rate basis once the governing body of the community qualifies that community for coverage under ...
Kindling intentionally set in a fireplace, stove, furnace, or other containment that has not spread beyond it. Property insurance does not protect against damage from a friendly fire. For ...