by Myers Jackson | Dec 31, 2024 | Auction News
Balloon Mortgage A mortgage with monthly payments often based on a 30-year amortization schedule, with the unpaid balance due in a lump sum payment at the end of a specific period of time (usually 5 or 7 years). The mortgage may contain an option to “reset” the...
by Myers Jackson | Dec 31, 2024 | Auction News
Balance Sheet A financial statement that shows assets, liabilities, and net worth as of a specific date. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK THIS BUTTON For all active...
by Myers Jackson | Dec 31, 2024 | Auction News
Assumption Fee A fee a lender charges a buyer who will assume the seller’s existing mortgage. 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...
by Myers Jackson | Dec 31, 2024 | Auction News
Assumable Mortgage A mortgage loan that can be taken over (assumed) by the buyer when a home is sold. An assumption of a mortgage is a transaction in which the buyer of real property takes over the seller’s existing mortgage; the seller remains liable unless released...
by Myers Jackson | Dec 31, 2024 | Auction News
Assignment of Mortgage A document evidencing the transfer of ownership of a mortgage from one person to another. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK THIS BUTTON For all active...
