Commitment

An enticingly attractive initial rate below the market offered in an adjustable rate mortgage. For example, the teaser rate may be offered at 2% below market. A borrower who cannot qualify ...

Arrangement the insured and insurer share on a proportional payment for a loss. ...

Sudden, drastic change in organization, direction, objectives, strategies, or functioning. It is often associated with a new owner who wants things his way. Managers and employees may ...

Structure have two dwelling units under the same roof. Two-story apartment unit. ...

In a construction loan, payments made to a contractor as the various construction stages are completed. The contractor uses progress payments to pay the various subcontractors and suppliers ...

A type of real estate investment trust (REIT) that does not own property but gives short-term financing for construction loans or for permanent mortgage loans for major projects. ...

Preference. Precedence. Something given prior attention. Something having a higher level of importance or ranking. Example of when priority apply are a prospective tenant for an ...

The right to possess, exclusively occupy, enjoy, control, and dispose of real estate. Ownership rights to realty are granted by the ownership of a title to real property. ...

Not only can homeowners associations impose pet restrictions but almost 100% of them do. Here’s the thing: the job of a homeowners associations or HOA is to look at the big ...

The right of a property owner to have and enjoy all of the advantages of property ownership including airspace rights, mineral rights, riparian rights, and rights to alluvion, as well as ...

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 ...

When you hear someone referring to a real estate agent type as a “general agent”, it might seem that someone is calling that agent “basic”, common. Right? But the ...

Wondering what is the difference between a condominium and an apartment? Well, differently from the difference between an apartment and a flat, this one is not so much related to word ...

Nine out of ten Americans treat their pets like any other family member. Over 63 million dogs and 42 million cats are spoiled in our homes. But believe it or not, Scottsdale, Arizona has ...

A basic policy is a homeowners insurance policy that covers certain perils. ...

The state of Tennessee has been one of the hardest states hit by the sub-prime mortgage crisis of 2007-2008. Since then, the state has constantly fought to make homeownership more ...