Burnoff

Definition of "Burn-off"

Reducing the prepaid items on a debt agreement.

Search Real Estate Glossary

Related Real Estate Glossary terms

Wholesale Lender

A lender that provides loans through mortgage brokers or correspondents. ...

Aviation Insurance

Combination of property insurance on the hull of an airplane and liability insurance in the followin ...

Effective Interest Rate

Real rate of interest on a loan. It is the coupon rate divided by the net proceeds of the loan. Assu ...

Eligible Retirement Plan

Plan under which an employee may make a rollover contribution. If that contribution is from a qualif ...

Certified Commercial Investment Member

Name given by the Realtors National Marketing Institute which is affiliated with the National Associ ...

Conservator

An individual appointed by a court to manage the affairs and property of a legally incompetent party ...

Related Real Estate FAQ

What Is A Point?

A point is equal to 1 percent of a loan amount. Lenders charge points in exchange for lowering the i ...

What Is A Negative Amortization?

A negative amortization is a type of loan situation that occurs when the monthly payments do not cov ...

What Is A Quit Claim Deed?

A quit claim deed is a formal document that denies a claim to a certain property. Often used to clea ...

What Is A Cap?

A limit on an adjustable-rate mortgage. ...

What Is A Private Mortgage?

Private mortgage insurance is insurance that protects mortgage lenders against default on loans by p ...

What Is A Mortgagee?

A morgagee is the lender. ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

Rent or Buy - the pros and cons 7 Tips for a First Time Homebuyer How Does The Home Loan Underwriting Process Work? Should you Buy a Home with Cash? 5 U.S. Cities with the Best Public Transportation

FAQ

What is a mortgagee? What is a foreclosure? What is an appreciation? What is an overall debt ratio? What is a title?