by Myers Jackson | Dec 31, 2024 | Auction News
Loan Origination The process by which a loan is made, which may include taking a loan application, processing and underwriting the application, and closing 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
Liquid Asset A cash asset or an asset that is easily converted into cash. 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 sale CLICK...
by Myers Jackson | Dec 31, 2024 | Auction News
Closing Agent The person or entity that coordinates the various closing activities, including the preparation and recordation of closing documents and the disbursement of funds. (May be referred to as an escrow agent or settlement agent in some jurisdictions.)...
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...
