Backup Contract

Type of seller financing. It is a mortgage loan from a seller instead of cash for the purchase of real estate. The term has a dual meaning in real estate financing. All mortgage loans for ...

Wondering what a Judgment Lien is?Well, a Lien can be consensual or non-consensual, right? Meaning it can be forced or agreed upon by way of a bilateral contract. When we say ...

Total amount due at maturity consisting of both principal and compound interest. ...

A ground lease that includes only the cost of leasing the land for a period of years. Normally, a land lease is valid for an extended period of time anticipating that improvements will be ...

Property devoted to only one such as a medical building. ...

See annuity due. ...

An interest rate charged on a loan that exceeds the legal maximum interest rate within the state. It is illegal to do so. The maximum interest rate may depend on the type of lender and ...

Contractual provision requiring apportionment. ...

The quiet, sophisticated town of Bowie MD is nestled cozily between the US capital of Washington DC and Annapolis, Maryland. This town is known for many things, from its beautiful suburban ...

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Foreclosures are often financially devastating for those that fall victim to them. Far from the least of the problems that foreclosure will inevitably lead to is the negative impact on the ...

A subagent is an agent who works with you to purchase a house but is paid by the seller. ...

Jobs in the Champion city are not scarce. The vast majority of the population, though, are white-collar workers, either working in IT or managing their own business. But Clermont has its ...

Bentonville Arkansas is a sunny little town in northwestern Arkansas. Nestled in the center of Benton county, Bentonville is in one of the fastest-growing areas in the United States. Why is ...

A rate lock is a commitment issued by a lender to a homebuyer or to the mortgage broker guaranteeing a specific interest rate for a specified amount of time. ...

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 ...