Agency


Definition of "Agency"

Relationship between two people or entities in which one is a principal and the other is an agent representing the principal in activities with other parties.



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Prepayment

A payment made by the borrower over and above the scheduled mortgage payment. If the additional pay ...

Rurban

Geographic location that is gradually being developed as an urban area. ...

Personal Injury Insurance

Liability insurance that provides coverage for the insured in the event the insured's negligent acts ...

Voluntary Life Insurance

Additional amount of life insurance above that provided by the employee benefit plan (standard group ...

Historical Structure

Building recognized because of its history, such as the Booth theater in Washington, Dc. The demolit ...

Net Present Value (NPV)

The difference between the present value of cash inflows generated by real estate and the amount of ...

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Do I Need Life Insurance?

Whether you are a .boomer. an .X-er. or an .empty Nester. it is never to or too late . to think abou ...

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A Good Faith Estimate is when a lender must give a prospective homebuyer a written estimate of closi ...

What Is Principal?

Principal is the amount of money borrowed and still owed on a loan not including the interest. ...

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The process of finalizing all the dealing associated with the sale and purchase of a home. (Also kno ...

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A borrowers other debts, such as auto loans and credit cards, figured into the debt-to-income ratio. ...

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An overall debt ratio is the percentage of your overall debt (housing payments plus any other long-t ...

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