by Myers Jackson | Dec 31, 2024 | Auction News
Underwriting The process used to determine loan approval. It involves evaluating the property and the borrower’s credit and ability to pay the mortgage. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate...
by Myers Jackson | Dec 31, 2024 | Auction News
Two- to Four- Family Property A residential property that provides living space (dwelling units) for two to four families, although ownership of the structure is evidenced by a single deed; a loan secured by such a property is considered to be a single-family...
by Myers Jackson | Dec 31, 2024 | Auction News
Truth-In-Lending Act (TILA) A federal law that requires disclosure of a truth-in-lending statement for consumer credit. The statement includes a summary of the total cost of credit, such as the annual percentage rate (APR) and other specifics of the credit. ...
by Myers Jackson | Dec 31, 2024 | Auction News
Treasury Index An index that is used to determine interest rate changes for certain adjustable-rate mortgage (ARM) plans. It is based on the results of auctions by the U.S. Treasury of Treasury bills and securities. Real estate words and definition CLICK THIS...
by Myers Jackson | Dec 31, 2024 | Auction News
Transfer Tax State or local tax payable when title to property passes from one owner 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 auctions, and...
by Myers Jackson | Dec 31, 2024 | Auction News
Trade Equity Real estate or assets given to the seller as part of the down payment for the property. 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,...
