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Popular Real Estate Questions

Popular Real Estate Glossary Terms

A letter from a lender verifying that the price and other terms of a loan have been locked. Borrowers who lock through a mortgage broker should always demand to see the lock commitment ...

Situation involving a chance of a loss or no loss, but no chance of gain. For example, either one's home burns or it does not; this risk is insurable. ...

Trust in which rights to make any changes therein are surrendered permanently by the grantor. The grantor uses this type of trust to transfer assets and any potential depreciation out of ...

Behavior or character standing of an individual in a community. Some personal habits are considered in underwriting an insurance application. ...

Liability of an insurance company for future claims that it expects to pay and for which a reserve has been established. ...