Late Payment


Definition of "Late payment"

Sandra Lockhart & <br>Lisa Hernandez
  Opes Real Estate Group

Payment received after the due date. A penalty and/or interest may be charged on such payment. For example, a bank may charge a penalty of $25 if a mortgage payment is received after the tenth of the month.


Search Real Estate Glossary

 

Related Real Estate Glossary terms

Urban Economics

Branch of economics that applies the tools of economic reasoning to the analysis and solution of urb ...

Health Insurance Association Of America (hiaa)

Organization that seeks to educate the public on the benefits of private health insurance coverage. ...

Family Considerations

Factors influencing the amount of life insurance to purchase, such as marketable skills of spouse, a ...

Residential Market

Availability of houses in an area. ...

Rent Bid Model

Depicts the best way to allocate land to maximize usefulness and profitability. ...

Tariff Rate

Standard property-liability insurance premium set by a rating bureau for a particular class of risk. ...

Related Real Estate FAQ

What Is A Closing?

The process of finalizing all the dealing associated with the sale and purchase of a home. (Also kno ...

What Is A Gift Letter?

A gift letter is when an individual gives you money for a down payment as a gift, that person must w ...

What Are Basis Points?

Basic points relates to changes in the interest rate for your home. ...

What Is A Lifetime Rate Cap?

A lifetime rate cap is an adjustable-rate mortgage (ARM), this cap limits the amount the interest ra ...

What Is An Assessed Value?

The public tax assessor value of a property as determined for the purpose of taxation. ...

What Is A Debt-to-income Ratio?

A debt-to-income ratio is the percentage of a persons monthly earnings used to pay off all debt obli ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

What is the Best Time of Year to Buy a Home? Rent or Buy - the pros and cons 6 Reasons you are not selling properties How To Sell Your Home Mortgage Loan Types

FAQ

What does FSBO mean? What is underwriting? What type of Life Insurance is right for me? What is an amortization? What does Travel Insurance Typically Cover?