What Are Prepayment Penalties?

An easement is the right given by the landowner to use the property. ...

A front-end ratio is a ratio of the borrowers monthly housing expenses-including principal, interest, property taxes, and insurance (OITI)-compared to the borrowers gross, pretax monthly ...

An index is an economic indicator used to set the rate for adjustable-rate mortgages. ...

You know what is the truest answer to “who can put a lien on your house”? Yourself. We’re not trying to be smart here; it’s the truth. Failing to pay up a ...

A proration is the division of certain fees. If the sellers have paid the taxes six months in advance, for example, they may want a portion of that payment back for the months you are ...

Principal is the amount of money borrowed and still owed on a loan not including the interest. ...

A Buildable acre consists of 43,560 square feet of residentially designated buildable land, after excluding present and future rights-of-way, restricted hazard areas, public open spaces and ...

A joint tenancy is an equal, undivided ownership in a property by two or more individuals. ...

Wood strip (molding) at the bottom of a baseboard. ...

Board behind steps or stair going upward. ...

Place where real estate is situated. The geographic location of property affects its value. For example, real estate in a good neighborhood is worth more. ...

Unrealized gain in value of real property from holding it. The increase value is not recognized in the accounts. When the property is sold there will be a realized gain or loss. ...

Charges incurred in making a sale of real estate such as real estate commissions and attorney fees. ...

Legal competence of parties to be held responsible for the terms of a contract or to be brought into the courts. Those who are under the legal age, are mentally incompetent, or under the ...

See accommodation endorser, maker, or party. ...

Right of a party, the assignor, to allocate the benefits of certain insurance policies to a third party, the assignee. Insurance on real estate may assign the policy to protect the property ...