Default

Also called accounting or unadjusted rate of return. The return computed by dividing the anticipated future annual net income by the required investment in real estate. Sometimes the ...

Financial intermediaries who invest in deeds of trust and mortgages, and hold them in their own portfolio. Large financial firm that uses depositors' money to lend to borrowers. ...

Flaw in an otherwise proper title. A title obtained through error or fraud without proper signature or consideration or other improper action. A defective title is null and void having no ...

An accounting methodology for separately depreciating individual parts or elements of a building or improvement qualifying as business use or a depreciable asset under the IRS tax code. ...

Mortgage agreement permitting the loan liability to be transferred to a purchaser of the property with no change in its terms. However, if the mortgage has a due-on-sale clause, then it is ...

Dirt around a building's foundation for support. Holes are filled in. ...

Personal income minus personal income tax payments and other government deductions. It is the personal income available for people to spend or save; also called take-home pay. It may be a ...

Involves the transfer of property from one individual to another for a consideration in the form of sale. It is the most widely used type of real estate deed with a period of bargaining ...

A gift letter is when an individual gives you money for a down payment as a gift, that person must write you a gift letter so that it can be included in your loan documentation. ...

Wondering how to calculate the fair market value of a property? It helps if you understand that it’s all about an estimate; you’ll hardly bull’s-eye-it. Fair market ...

A subagent is an agent who works with you to purchase a house but is paid by the seller. ...

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 ...

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

Recently sold properties that are similar in size, location, and amenities to the home for sale. These properties help an appraiser determine the fair market value of a property. ...

There’s really no easy and quick answer to “how much money can I borrow to buy a home?” It will all depend on the overall financial health of the area in question, the ...

A front-end ratio is a ratio of the borrowers monthly housing expenses-including principal, interest, property taxes, and insurance (OITI)-compared to the borrowers gross, pretax monthly ...