Capital Recovery

An upper limit on the interest rate that can be charged in a variable rate mortgage over its life. For example, a variable rate loan is initially offered at 7% loan rate, and its interest ...

Opening so that air or gas may enter or leave. For example, an air conditioner has a "vent open" or "vent closed" knob for outside air. The "vent close" switch must be on for air ...

To pass property by will to an heir. Strictly speaking, real estate cannot be bequeathed to an heir, it must be devised. However, if it becomes clear the purpose of the testator was to ...

The units are used as commercial offices. The purchaser of an office condominium owns the title to the individual office unit and not to the property. Maintenance fees are assessed to each ...

Person providing advice for compensation about real estate. ...

Expenditures incurred to develop real estate. An example is the cost to build a shopping center. ...

Person or business indirectly having an interest in an occurrence, transaction, or situation. ...

Pledge of personal property, e.g., furniture, as collateral for a note. If the debt is not paid, the holder of the mortgage will receive the mortgaged property. See also mortgage. ...

All the REALTORS® in Scottsdale are aware of the hot real estate market they are working in. With a median house price of $478,200, anything that comes on the market below this price ...

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. ...

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

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. ...

An escrow officer - also known as a loan officer - is the person that walks you through the closing process. They are usually employed by the title company that you are working with. They ...

Are you confused because you can never tell what is the difference between an apartment and a flat? Don’t feel bad about it. Everyone has this doubt. And, to be honest, ...

A negative amortization is a type of loan situation that occurs when the monthly payments do not cover the principal or interest. Instead of declining, the balance of the loan actually ...

Considering that property depreciation is the phenomenon of an asset losing worth due to its use over time, home depreciation is not only common but inevitable. However, this is ...