Open Mortgage | Real Estate Glossary

Definition of "Open mortgage"

Josh Brill & Chas Noel- Brill

Realty One

A mortgage where the payments are overdue and open to a foreclosure action at any time.
A mortgage not having a prepayment clause permitting the mortgagor to repay the mortgage at any time without paying a penalty.

Earned premium minus incurred losses plus loss adjustment expense plus other incurred underwriting e ...

Sale of property where the seller in unable to allow current market prices an conditions determine t ...

Also called all inclusive trust deed (AITD). A mortgage (trust deed) that encompasses existing mortg ...

Section of an insurance company that evaluates claims for their subsequent payment. ...

Market analysis method where sales of similar properties in proximity neighborhoods are compared. Th ...

Dividend paid in addition to the regular dividend on a participating insurance policy. ...

This calculator figures how much interest savings you will have depending on how much extra you pay ...

FSBO means for sale by owner. ...

A type of purchase in which the buyer assumes the responsibility of making payments on a sellers hom ...

A treasury index is an index used to determine interest-rate changes for certain adjustable-rate mor ...

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

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