by Myers Jackson | Dec 31, 2024 | Auction News
Certificate of Deposit A document issued by the U.S. Department of Veterans Affairs (VA) certifying a veteran’s eligibility for a VA-guaranteed mortgage loan. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real...
by Myers Jackson | Dec 31, 2024 | Auction News
Lease-Purchase Option An option sometimes used by sellers to rent a property to a consumer, who has the option to buy the home within a specified period of time. Typically, part of each rental payment is put aside for the purpose of accumulating funds to pay the down...
by Myers Jackson | Dec 31, 2024 | Auction News
Fixed-Period Adjustable-Rate Mortgage An adjustable-rate mortgage (ARM) that offers a fixed rate for an initial period, typically three to ten years, and then adjusts every six months, annually, or at another specified period, for the remainder of the term. Also known...
by Myers Jackson | Dec 31, 2024 | Auction News
First-Time Home Buyer A person with no ownership interest in a principal residence during the three-year period preceding the purchase of the security property. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real...
by Myers Jackson | Dec 31, 2024 | Auction News
Late Charge A penalty imposed by the lender when a borrower fails to make a scheduled payment on time. 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,...
by Myers Jackson | Dec 31, 2024 | Auction News
Certificate of Deposit A document issued by a bank or other financial institution that is evidence of a deposit, with theissuer’s promise to return the deposit plus earnings at a specified interest rate within a specified time period. Real estate words and...
