Buy Down

Land located next to water that has and will continue to experience water damage. The land generally is not suitable to build a structure on. In some cases, federal or local government may ...

Mortgagor's signed statement that the stated remaining balance of a mortgage is correct and it is a property lien. This prevents a mortgagor from later stating the facts were ...

Property of a defaulted borrower is sold under court order, and the judge must approve the amount received. For example, Fidelity Bank has a first mortgage balance of $100,000 on Mr. X's ...

Passageway providing public access from a building interior to an exit. Long interior passageway providing access to rooms. ...

Borrower's right to redeem his property by immediately paying off the loan balance and any related costs. ...

Street having access only at one end and terminating with a circular turnaround area. The circular area permits automobiles to exit the street without having to use a home's driveway to ...

Property that is close to, although not actually touching, another piece of property. ...

Federal and state programs prohibiting any form of preferential treatment or discrimination based on age, national origin, race, religion, sex, or other personal characteristics, using ...

Basic points relates to changes in the interest rate for your home. ...

When a home is marked “as is”, it means the home seller will not take part on any renovations, will not fix any defects the home buyer might bump into. If the home buyer wants ...

Now that you’ve learned how much does a real estate agent make, you’re wondering who pays the real estate agent? Get ready for a non-answer. Or a super-answer. It’s a ...

A commitment letter is a formal offer of a loan by a lender. The letter states the terms under which the lender has agreed to the loan. ...

A gated community is a community of homes where you must pass through a security gate in order to enter the community. ...

A proration is the division of certain fees. If the sellers have paid the taxes six months in advance, for example, they may want a portion of that payment back for the months you are ...

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. ...

Equity is the financial interest or cash value of your home, minus the current loan balance(s). If selling the home, this would also be minus any costs incurred in selling the home. If ...