Definition of "Loan"
An agreement by which the owner of property (the lender) and a borrower agree to let the borrower use the property for a particular time period and in return the borrower will pay the lender a payment (usually interest), and return the property (usually cash) at the end of the time period. A loan is usually evidenced by a promissory note. An example is a mortgage loan.
Popular Real Estate Terms
Home of 1 to 3 stories with stucco outside and a roof made of red tiles. ...
Short-term loan that is made to bridge the term between the end of one loan and the beginning of another. ...
What is a turnkey property? A turnkey property is a very popular type of investment property that real estate investors prefer because it starts bringing a return on investment quickly. ...
Bottom of a frame such as a window sill. ...
System for listing recorded documents affecting a particular tract of land. ...
Regular pattern of expansion (recovery) and contraction (recession) in total economic activity surrounding a growth trend, including the impact of economic variables such as employment and ...
Used primarily by real estate corporations as a means of restructuring and reorganizing existing debts. Creditors must vote on a debt-paying plan and a judge must give approval. It provides ...
All of the conditions of the purchase and sale agreement have been fulfilled. The escrow agent prepares a written summary of the funds received in escrow, and the moneys paid out. The agent ...
The term mortgage amortization is the steady switch occurring to each mortgage payment between how much interest is covered and how much principal each month. Simply put, mortgage ...
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