Buyer agrees to accept the responsibility for the existing mortgage. The seller is not relieved of the obligation unless the lender agrees to release it. Many lenders charge points and increase the interest rate when a mortgage is assumed.
Same as term junior mortgage: 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 ...
(1) An arrangement to buy real estate at a specified price and conditions. The failure to honor the commitment may result in damages. (2) Bank commitment to lend money in connection with ...
Degree of relationship between variables or factors affecting the real estate market and activities within the market. Correlation examines how the value of one variable changes when the ...
System for human waste disposal where sewers do not exist. Pipes transport waste into septic tank and a leaching field purifies the fluids that come out of the septic tank before they join ...
Being densely populated, one might expect a certain level of insecurity especially when it comes to crimes in Arlington, however, it is one of the safest places one could live in. It might ...
Located on the East Coast of Florida you will find a city that has been nicknamed “the quieter side of Florida”. That city is Palm Coast, FL. The name itself paints a picture of ...
Tempted to become a real estate agent in Nashville? Then, you must be concerned about the financial side of the business. Although it’s fairly easy to enter the profession, and the ...
Like many other people who have been seeking a life in a gorgeous oceanfront city, turning your gaze towards Boca Raton, Florida is not a surprise. The city has many attributes that attract ...
Orlando, Florida is a city of about 300,000 people located in the heart of Florida. Part of the Orlando metropolitan area the city of Orlando is one of the most important cities in the ...
Having a good job market in the area you are living is an important aspect that could impact your way of life or whether you decide to relocate in the near future. Job opportunities are one ...
Of all the things you’ll probably wonder about when moving to a new city, the one at the top of the list will likely be its safety. Whether you have a family or not, keeping yourself ...
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 ...
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