Cornice

Tax term describing current and necessary business expenses. Ordinary and necessary business expenses do not include long-term capital losses. For example, the XYZ stationary store deducts ...

Series of sloping horizontal slats most frequently mounted in doors and windows permitting the passage of air while restricting vision and preventing rain from entering the building. ...

Government program of providing low interest rate mortgages to low-income qualified buyers. In the tandem program, the Federal National Mortgage Association (FNMA) purchases low interest ...

Exchange of products or property between individuals in which no cash is paid. ...

Expected period of benefit used to depreciate business property, plant, and equipment. The guidelines may be developed by the industry or Internal Revenue Service (IRS). ...

Possession and use of a property estate by virtue of a lease. There are four types of leasehold estates: estate for years, periodic tenancy, tenancy at will, and tenant at sufferance. ...

Something that is illegal. An example is an unenforceable debt because it has exceeded the statute of limitations. ...

Property that shares a common border, is contiguous, and touching. ...

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. ...

Any move is stressful, no doubt about it. And it can put a lot of pressure on you, even financially. Like everybody else, you have a few expensive items that you want to make sure that ...

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 ...

Wondering how to stop a lien on your property? Well, there is one pre-emptive measure of including in your bilateral contract that failing to comply with whatever obligations the ...

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. ...

A qualifying ratio is the percentages a lender compares to see whether you qualify for a loan. ...

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 ...

There’s been a lot of demand for QR codes for real estate signs as they became a fabulous way to go beyond the advertising nature of the traditional static “for sale” ...