What Are Prepayment Penalties?
A penalty fee charged for paying off a mortgage early, thus allowing banks to still make money off of the loan in the event that you inherit a small fortune. Most loans these days do not have prepayment penalties - and if they do, they are only applicable for the first few years of the loan.
Popular Real Estate Questions
Popular Real Estate Glossary Terms
Locating a structure after considering such factors as the homeowner's desired privacy, noise, wind, and sunlight. Position of a structure on a specific location relative to ...
Suppose you wish to become a legit professional in a specific domain. In that case, you have to get a license, an official permit, or a document. A license acknowledges your studies and ...
When someone owns a house that is an abutting property, it means that the property is sharing a boundary with the property next to it. The two abutting properties are adjoining properties ...
An accounting methodology for separately depreciating individual parts or elements of a building or improvement qualifying as business use or a depreciable asset under the IRS tax code. ...
property that has been segregated into parts. ...
Real property usable in a trade or business. Such as, the property on a which retail store, hotel, or office building are located. ...
Scarcity is a fundamental term in economics, mirroring the limited resources and needs gap. The shortage demands consumers to make logical decisions on spending their money efficiently. ...
Percentage of royalties derived from an oil and gas lease payable to someone other than the property lessor. It is a net royalty interest in the oil and gas recovered at the surface free of ...
The yield after deduction inflation and its effects. It is the return on investment stated in real purchasing power. ...
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