Bankruptcy (business)

Clause at the beginning of a legislative statute explaining its purpose. A preamble neither confers or increases powers contained within a statute and is therefore not an essential element ...

Person or business susceptible to loss on an investment, such as a high-risk speculation ...

In the mining and petroleum industries, it is a portion of the profit secured from the extracted minerals or oil reserves from the property paid to the property owner. For example, a ...

Same as term plat: Map that shows the location and boundaries of individual properties. ...

Private company established in 1957 and headquartered in Milwaukee, WI, providing private mortgage insurance (PMI) to mortgage lenders granting mortgages to mortgagors not having at least a ...

Maximum credit a prospective buyer may be given. An example is the maximum mortgage a prospective home buyer may receive from the bank. ...

Latin for at first sight. Facts assumed to be true unless subsequent evidence disproves it. ...

Evaluation of the reasons for the difference between the expected selling price of property and its appraisal value. Perhaps the discrepancy is due to a poor appraisal, emergency nature of ...

A condominium is a form of home ownership in which the owner owns the airspace within the walls but doesn't own the actual walls, ceilings, or floors of the home. ...

This question might have crossed your mind while planning for retirement, or... after inheriting your aunt’s under-the-mattress savings. You spread your wings ready to fly to the ...

A housing ratio is the percentage of your housing payment (principal, interest, taxes, and insurance) to your monthly gross income. Lenders use this ratio to qualify you for a loan. ...

A lifetime rate cap is an adjustable-rate mortgage (ARM), this cap limits the amount the interest rate can increase or decrease over the life of a loan. ...

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 ...

To figure out where you stand on the debt-to-income ratio, you must first understand the meaning of the figure. Most lenders use the ratio 28/36. The first number, which is also referred ...

Here you are asking us: “Do I have a lien on my home?” We don’t know. Do you? Here are some of the reasons why one would have a lien on their home: Defaulting. ...

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. ...