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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 ...
Originally strips of wood approximately 1 to 1 1/2 inch wide, 1/4 to 3/8 inch thick by approximately 4 ft. long which were nailed across the wall studs for the purpose of supporting ...
On an ARM, the assumption that the interest rate rises to the maximum extent permitted by the loan contract. ...
Maximum amount of a specified type of insurance coverage, according to underwriting guidelines, that an insurance company feels it can safely underwrite on a particular exposure without ...
Green lumber is not necessarily a lumber that’s green; though it might, sometimes, be a little greenish. And it’s also not a definition of an environmentally conscious type of ...