by Myers Jackson | Dec 31, 2024 | Auction News
Home Inspection A professional inspection of a home to determine the condition of the property. The inspection should include an evaluation of the plumbing, heating and cooling systems, roof, wiring, foundation and pest infestation. Real estate words and...
by Myers Jackson | Dec 31, 2024 | Auction News
Home Equity Line of Credit (HELOC) A type of revolving loan, that enables a home owner to obtain multiple advances of the loan proceeds at his or her own discretion, up to an amount that represents a specified percentage of the borrower’s equity in the property....
by Myers Jackson | Dec 31, 2024 | Auction News
Home Equity Conversion Mortgage (HECM) A special type of mortgage developed and insured by the Federal Housing Administration (FHA) that enables older home owners to convert the equity they have in their homes into cash, using a variety of payment options to address...
by Myers Jackson | Dec 31, 2024 | Auction News
Hazard Insurance Insurance coverage that compensates for physical damage to a property from fire, wind, vandalism, or other covered hazards or natural disasters. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real...
by Myers Jackson | Dec 31, 2024 | Auction News
Growing-Equity Mortgage (GEM) A fixed-rate mortgage in which the monthly payments increase according to an agreed-upon schedule, with the extra funds applied to reduce the loan balance and loan term. Real estate words and definition CLICK THIS BUTTON For other...
