Real Estate Terms

Not only can one convert a warehouse into a home, but many people have been doing just that. Converting a warehouse into a loft living space is actually kind of a trend which started ...

A negative amortization is a type of loan situation that occurs when the monthly payments do not cover the principal or interest. Instead of declining, the balance of the loan actually ...

A lock in guarantees a certain interest rate for a certain period of time. ...

A limit on an adjustable-rate mortgage. ...

Equity is the financial interest or cash value of your home, minus the current loan balance(s). If selling the home, this would also be minus any costs incurred in selling the home. If ...

Basement remodels add more beautiful living space and are usually treated like new construction. This means that it increases your home’s assessed value and therefore an increase in ...

A penalty fee charged for paying off a mortgage early, thus allowing banks to still make money off of the loan in the event that you inherit a small fortune. Most loans these days do not ...

You know what is the truest answer to “who can put a lien on your house”? Yourself. We’re not trying to be smart here; it’s the truth. Failing to pay up a ...