First Mortgage
Definition of "First mortgage"
Initial or senior mortgage on property. It comes before all subsequent mortgages, and the mortgage has precedence in payment if default occurs.
Popular Real Estate Terms
Type of investment company that invests money in mortgages and various types of investment in real estate, in order to earn profits for shareholders. Shareholders receive income from the ...
Frame surrounding a door or window to block adverse weather. It may be made of wood, metal, or other material. The frame may be fixed or moveable. ...
Same as term Veterans Administration Mortgage: Mortgage guaranteed up to 30 years by the Veterans Administration to veterans meeting minimum requirements. Originally established by the ...
Within Real Estate, “nuisance” is a term used to describe any disturbance that might affect neighboring houses. Nuisance abatement is the enforcing of policies and codes that ...
Calculator having various financial functions including present value, purchase price, property appreciation, lease costs, loan and mortgage amortization. ...
A lease requiring tenants to pay all utilities, insurance, taxes, and maintenance costs. ...
Any structure projecting from a wall or other vertical element for the purpose of providing support for a weight or other object. ...
Bankruptcy declared by any insolvent person or business. In contrast to involuntary bankruptcy, which is applied for by the creditors. ...
Residing in a structure that the individual owns. ...
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