Insured Mortgage
Same as term insured loan: A loan indemnified against default by the borrower. Such loans may be a mortgage loan insured by a standard mortgage insurance policy or by FHA mortgage insurance. In the event of the death or default of the borrower, the mortgage insurance policy will either pay the mortgage principal entirely, or continues making payments.
Popular Real Estate Terms
Combination of two or more real estate brokerages into one, with only one company retaining its identity. Typically, the larger of the two companies is the company whose identity is ...
To create an encumbrance. ...
Written obligation of a borrower that is backed by collateral in the event of default. The lender must assure himself that the market value of the security equals or exceeds the amount of ...
Examining and testing the ground to determine the conditions for building something, such as an office building. ...
A lease contract extending ten years or more. ...
(1) Surrendering voluntarily or involuntarily ownership of property or an interest therein. (2) Court order to give up possession or the right to property such as in the case of an ...
An administrator appointed by the government or the courts to administer the laws relating to a government agency or court. A commissioner is a part of a government or court commission. ...
An amount of money provided for in a contract as compensation if the contract is not fulfilled. An example is an offer to buy real property that includes a provision that once the seller ...
A binding judicial determination of the rights and standing of litigants. A declaratory judgment does not result in any relief for the action brought before the court. It merely ...
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