Primary Mortgage Market
Mortgage market in which original loans are made by lenders. The market is made up with lenders who supply funds directly to borrowers and hold the mortgage until the debt is paid. Examples are savings and loans, commercial banks, mutual savings banks, and mortgage companies. The primary market is contrasted to the secondary mortgage market, which involves buying and selling of first mortgages by banks, insurance companies, and other mortgagees to free money for new loans.
Popular Real Estate Terms
The imposition or collection, usually by legal or governmental authority, of an assessment of a specified amount. An example is a tax assessment on real estate. ...
What does Act of God mean? Acts of God or “force majeure” is typically how an insurance policy classifies peril situations that could not be prevented or defended by men. ...
Mortgage loan not insured or guaranteed by a governmental agency such as the Federal Home Administration or the Veterans Administration. This type of loan is repayable in fixed monthly ...
When a property owner defaults on his or her tax payments, the taxing jurisdiction may force a liquidation of the property or tax sale for the purpose of collecting the owed real estate ...
Millennials – also known as Generation Y, because they come after the so-called Generation X - is a term coined for a generational extract of people born at the end of the first ...
List of records kept of what is owned by an individual such as the deed to a house and the title to land. ...
If you’re an owner of a property that needs to be accounted for in your return on investment or used to calculate your capital gains and losses, then the cost basis will help you ...
A right or interest in property held by a third party, which often limits the use and diminishes the value of the property, but usually does not prevent the transferring of title. The more ...
One who represents a zone such an elected leader of a region. He or she have dealings with the county's officials in matters affecting that zone. ...
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