Definition of "Bank"
Financial institution that services savings and checking accounts, provides loans, and deals with negotiable instruments. Stringent federal and local regulations exist over banking activities. The three major types of banks are commercial, savings, and savings and loan associations. Various kinds of real estate loans are available from banks at attractive interest rates. However, the borrower should shop around since rates vary among banks.
Popular Real Estate Terms
Deed of trust or mortgage in real estate in which the lender subordinates her loan to another lender whose priority is first if there is nonpayment by the borrower. ...
Permits oral evidence to augment a written contract in certain cases. ...
Land expansion resembling a star. The starts center is the city, and major thoroughfares going away from the city are depicted. ...
In short, an overage means a surplus or an excess of money. An overage can present itself at a property at an auction where the asset has gone over the asking price. Suppose there’s a ...
Branching is a widespread phenomenon in banking and other financial domains. A branch office defines an office or business bureau that a company opened in another location to provide ...
Matters that need to be rectified in a home or building prior to its sale or acceptance by a new owner. For example, a leaking water pipe should be repaired prior to showing the property to ...
Failure, without sufficient reason, for one or both parties to perform the terms of a real estate contract. Breach requires unequivocal, decisive, and absolute refusal to carry out the ...
A loan that is to be replaced by a permanent loan. ...
Every borrower has his own definition of amortization schedule in mind. An amortization schedule is a table that reveals how the debt is going to be paid back and at what cost. For most ...
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