Mortgage Risk Rating
The amount of inherent risk for a mortgage in granting a mortgage. An operating principle in mortgage risk rating is that the mortgage cannot exceed 2.5 times the mortgagor's annual income, only a maximum of 28% of the mortgagee's salary can be devoted to the mortgage payment, and total debt payments including the mortgage payment cannot exceed the mortgagee's salary by 33%.
Popular Real Estate Terms
Any property, tangible or otherwise, except real estate. For example, furniture or automobiles. ...
Interest rate on a mortgage is changed periodically based on the change in a general price index to take into account inflation, such as a yearly adjustment. An example is the consumer ...
The accelerated cost recovery system is a depreciation system for tax purposes mandated by the Economic Recovery Tax Act of 1981. In 1986 the Accelerated Cost Recovery System (ACRS) was ...
Legal dictate that must exist for property to be owned as joint tenants. ...
The definition of real estate owned (REO) is known by heart by house flippers or by real estate agents specialized in bank owned properties. These are properties that once used to be in a ...
Meaning or definition given to an act, fact. Or thing through legal or juridical interpretation. ...
Rainwater pipe attached to a roof gutter channeling the run off down and away form the building. ...
Borrower's right to redeem his property by immediately paying off the loan balance and any related costs. ...
Individual who by his expertise, education, and experience prepares syndication reports. ...
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