by Myers Jackson | Dec 31, 2024 | Auction News
Capacity Your ability to make your mortgage payments on time. This depends on your income and income stability (job history and security), your assets and savings, and the amount of your income each month that is left over after you’ve paid for your housing costs,...
by Myers Jackson | Dec 31, 2024 | Auction News
Jumbo Loan A loan that exceeds the mortgage amount eligible for purchase by Fannie Mae or Freddie Mac. Also called “non-conforming loan.” Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK...
by Myers Jackson | Dec 31, 2024 | Auction News
Judgment Lien A lien on the property of a debtor resulting from the decree of a court. 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...
by Myers Jackson | Dec 31, 2024 | Auction News
Cap For an adjustable-rate mortgage (ARM), a limitation on the amount the interest rate or mortgage payments may increase or decrease. See also “LifetimePayment Cap,” “Lifetime Rate Cap,” “Periodic Payment Cap,” and “Periodic Rate Cap.” Real estate words and...
by Myers Jackson | Dec 31, 2024 | Auction News
FHA-Insured Loan A loan that is insured by the Federal Housing Administration (FHA) of the U.S. Department of Housing and Urban Development (HUD). Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions...
