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
" A metal plate attached to the lower end of a door to prevent marring from people "kicking" the door in order to open it. A metal plate mounted on the open edge of a stairs platform." ...
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 ...
(1) Land adjacent to a lake, river, or stream that can also be part of a flood area. (2) Land at the bottom of a valley or glen. ...
Private company established in 1957 and headquartered in Milwaukee, WI, providing private mortgage insurance (PMI) to mortgage lenders granting mortgages to mortgagors not having at least a ...
Legal competence of parties to be held responsible for the terms of a contract or to be brought into the courts. Those who are under the legal age, are mentally incompetent, or under the ...
Same as term yield: The income earned on an investment, typically stated as a percentage of the market price ...
The definition of dereliction is the intentional property abandonment or desertion with no hope of returning or recovery of a property. Dereliction is the act of abandonment, neglect of ...
Number of housing units of a particular category that are available. ...
Name given by the Realtors National Marketing Institute which is affiliated with the National Association of Realtors. ...
Have a question or comment?
We're here to help.