Deferred Interest Mortgages
Definition of "Deferred interest mortgages"
Financing technique aimed at those people who only plan to live in a house for a short time. Under this mortgage, a lower interest rate and, thus, a lower monthly mortgage payment are charged. Upon the selling of the house, the lender receives the deferred interest plus a fee for postponing the interest that would normally have been paid each month.
Popular Real Estate Terms
Latin for pending the suit. A suit which is actually in progress and the outcome is pending. ...
The broad use of credit to purchase a security. ...
Person who leases rented premises from the initial lessee. The sublease is for a time not exceeding the original lease period. ...
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Examining and testing the ground to determine the conditions for building something, such as an office building. ...
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lender who charges an exorbitant interest rate, which is typically illegal because it exceeds the interest rate allowed in the state. A borrower may go to a loan shark if he cannot obtain ...
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Same as term plat book: Listing of all of the plats of subdivided plots in a jurisdiction showing the location, boundaries, and plat owners. A plat book normally shows other improvements ...
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