The addition to land through natural forces like wind or water.
The right to go in and out over a piece of property but not the right to park on it. Pre-qualification The pre-qualification process should be done sometime during the first stages of the home hunting process. The addition to land through natural forces like wind or water.
Any means by which the ownership of a property changes hands. When a borrower falls behind, the lender contacts them in an effort to bring the loan current. Net Effective Income The borrower's gross income minus federal income tax. Money advanced by an individual builder, seller, etc. The ownership interest of an individual in real property. The claim on the property of a debtor resulting from a judgment. Prepaid Expenses Necessary to create an escrow account or to adjust the seller's existing escrow account. Payment Rate The interest rate used to calculate the payment, which is usually but not necessarily the interest rate.
The test to determine the capability of the soil to absorb liquid. Charging a rate of interest greater than that permitted by law. The number of years before a loan is scheduled to be paid off. Charge by a lender or broker connected with originating a loan. Prepayment Penalty A charge imposed by the lender if the borrower pays off the loan early. The financial inability to pay one's debts when due.
The loan amount divided by the value of the property. The legal evidence of ownership rights to real property. The person to whom an interest in real property is conveyed. An opinion or estimate of the value of a property at a given date. An instrument by which one transfers personal property. Payments made cause the loan principal to increase. Also has the responsibility for conducting federal monetary policy. Private restrictions limiting the use of real property. Owner Financing A property purchase transaction in which the property seller provides all or part of the financing.