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...
by Myers Jackson | Dec 31, 2024 | Auction News
Ground Rent Payment for the use of land when title to a property is held as a leasehold estate (that is, the borrower does not actually own the property, but has a long-term lease on it). Real estate words and definition CLICK THIS BUTTON For other words and...
by Myers Jackson | Dec 31, 2024 | Auction News
Executor A person named in a will and approved by a probate court to administer the deposition of an estate in accordance with the instructions of the will. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real...
by Myers Jackson | Dec 31, 2024 | Auction News
Gross Monthly Income Ground Rent The income you earn in a month before taxes and other deductions. It also may include rental income, self-employed income, income from alimony, child support, public assistance payments, and retirement benefits. Real estate...
by Myers Jackson | Dec 31, 2024 | Auction News
Government National Mortgage Association (Ginnie Mae) A government-owned corporation within the U.S. Department of Housing and Urban De-velopment (HUD) that guarantees securities backed by mortgages that areinsured or guaranteed by other government agencies. Popularly...
