Settlement Statement

A written agreement between institutional investors to buy or sell ownership shares in mortgages. An institution such as a bank can agree to buy a certain number of shares in a single or ...

Map within a governmental jurisdiction showing the boundary lines and ownership of all real property. A cadastral program produces the cadastral map. ...

Pledge of personal property, e.g., furniture, as collateral for a note. If the debt is not paid, the holder of the mortgage will receive the mortgaged property. See also mortgage. ...

The term assessed value is used to define the dollar value of a property for the applicable taxes. The evaluator, a tax assessor, determines the property’s assessed value for tax ...

A situation that occurs when borrowed funds cost more than they produce. ...

A minimum amount a lender is willing to provide on a commercial loan for a building designed to be tenant occupied. A floor loan is progressively funded as the building moves from the ...

The Real Estate Settlement Procedure Act (RESPA) is a piece of law passed by the US Congress in 1974 to protect homebuyers and home sellers against bad settlement practices. The Real ...

Charge assessed a mortgagor by the mortgagee when assuming a pre-existing mortgage. The assumption fee is often included in the closing costs when purchasing property. ...

In the city of Pasadena, MD live many young families, most of them with small children. Home prices are important when it comes to moving somewhere new. Pasadena, MD has a certain ...

The state of Tennessee has been one of the hardest states hit by the sub-prime mortgage crisis of 2007-2008. Since then, the state has constantly fought to make homeownership more ...

The town of Bluffton SC is not an impressively large area with a large population. Covering an area of 54 square miles and having a population of about 23,000 people, the town of Bluffton ...

Located in Pender County, Hampstead is an unincorporated North Carolina community with ample waterfront access and a small community of around 5,700 residents. With the large city of ...

An overall debt ratio is the percentage of your overall debt (housing payments plus any other long-term debt) to your monthly gross income. Lenders use this ratio-sometimes called the ...

When we look at home equity, we instantly think of home equity loans or home equity lines of credit. There is a reason for that, and we’ll get to it in a bit. Firstly, however, ...

The definition of a commitment letter or letter of commitment in real estate is a letter whose purpose is to inform a loan applicant that their application has been processed and their ...

Fort Mill is a city in South Carolina that is located in York County. Fort Mill is about 19 miles south of downtown Charlotte, and about 8 miles south of Rock Hill. With a population of ...