Definition of "Lock"
The number of days that the lender guarantees the loan's rate and terms. Without a written lock-in agreement, the lender is free to change the rate and terms at the time of loan closing. A slight increase in rate is commonly charged by lenders for lock-ins.
Popular Real Estate Terms
Time period in which one may carry out a lien on property. ...
Individual making the payments in a mortgage or pledging a mortgage or property. ...
In real estate terms, many consider having corner influence an extra financial advantage when it comes to transactions in most cases. Usually, enjoying a corner influence brings an ...
An interest in property with the right o possession being postponed into the future until a certain even occurs. There are several possibilities where a future interest in property could ...
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 ...
Type of mortgage, which is not based on a constant interest rate. ...
Unglazed and natural clay or shale machine extruded into ceramic tile. Quarry tile is often used for factory flooring. ...
Selling lots of land for such reasons as building structure on them including homes, office buildings, and shopping centers. ...
(1) The transformation of a racially integrated neighborhood-bousing pattern into segregated housing. (2) Deterioration, destruction, or decay. ...
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