Unsecured Loan
loan that is not secured by a mortgage on a specific property. It is backed only by the borrower's credit rating. Unsecured loan are typically short term. The disadvantages of this kind of loan are that, because it is made for the short term and has no collateral, it carries a higher interest rate than a secured loan and payment in a lump sum is required.
Popular Real Estate Terms
New cost less accumulated depreciation to date. ...
Divider made of plasterboard or plaster used to partition rooms. A room is created by the walls surrounding it. ...
Lawsuit brought by one or more persons of a large group for the benefit of all members of the group. ...
A proposal to buy property at a specified price. The seller of the property has the options of accepting the offer, rejecting it, or making a counteroffer. For example, John signs a listing ...
Short-term loan that is made to bridge the term between the end of one loan and the beginning of another. ...
Individual who will receive an inheritance upon the death of another. The proceeds of an insurance policy may be in a lump sum annuity. Real estate also passes to the beneficiary. ...
Representation on a flat surface of any region that depicts the elevation of that region. ...
Outside of a structure covering a lower quality or cheaper surface to make the structure look better. Examples of veneer exteriors are bricks covering concrete, or a thin surface layer of ...
Siding made out of aluminum, plastic derivates, or cement asbestos having ridges and valleys which is attached to the sides of buildings. ...
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