by Myers Jackson | Dec 31, 2024 | Auction News
Lifetime Cap For an adjustable-rate mortgage (ARM), a limit on the amount that the interest rate or monthly payment can increase or decrease over the life of the loan. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to...
by Myers Jackson | Dec 31, 2024 | Auction News
Closing The process of completing a financial transaction. For mortgage loans, the process of signing mortgage documents, disbursing funds, and, if applicable, transferring ownership of the property. In some jurisdictions, closing is referred to as “escrow,” a process...
by Myers Jackson | Dec 31, 2024 | Auction News
Lien A claim or charge on property for payment of a debt. With a mortgage, the lender has the right to take the title to your property if you don’t make the mortgage payments. Real estate words and definition CLICK THIS BUTTON For other words and definitions...
by Myers Jackson | Dec 31, 2024 | Auction News
Clear Title Ownership that is free of liens, defects, or other legal encumbrances. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK THIS BUTTON For all active auctions, and properties for...
by Myers Jackson | Dec 31, 2024 | Auction News
LIBOR-Index An index used to determine interest rate changes for certain adjustable-rate mortgage (ARM) plans, based on the average interest rate at which international banks lend to or borrow funds from the London Interbank Market. Real estate words and...
