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
A building having one house hold on the first floor and a second household on the second floor. ...
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The first mortgage on property when other mortgages exist as well, as in the case of a wraparound loan. For example, the total amount financed might be %200,000 of which the first lien is ...
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Additional tax liability that the IRS deems to be owed by a taxpayer. A taxpayer can argue the correctness of a deficiency with the IRS. There can be an appeal to the Tax Court without ...
Clause in a mortgage that allows the borrower to pay more than the monthly amount and to retire the loan early without a penalty. ...
Body o law relating directly to condominiums and cooperative developments. Most property law provides vertical ownership of property in the sense that property owners own mineral rights as ...
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