by Myers Jackson | Dec 31, 2024 | Auction News
Settlement Statement A document that lists all closing costs on a consumer mortgage transaction. 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
Settlement The process of completing a loan transaction at which time themortgage documents are signed and then recorded, funds are disbursed, and the property is transferred to the buyer (if applicable). Also called closing or escrow in different jurisdictions. See...
by Myers Jackson | Dec 31, 2024 | Auction News
Servicing The tasks a lender performs to protect the mortgage investment, including the collection of mortgage payments, escrow administration, and delinquency management. Real estate words and definition CLICK THIS BUTTON For other words and definitions...
by Myers Jackson | Dec 31, 2024 | Auction News
Servicer A firm that performs servicing functions, including collecting mortgage payments, paying the borrower’s taxes and insurance and generally managing borrower escrow accounts. Real estate words and definition CLICK THIS BUTTON For other words and...
by Myers Jackson | Dec 31, 2024 | Auction News
Seller Take-Back An agreement in which the seller of a property provides financing to the buyer for the home purchase. See also “Owner Financing.” 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
Security The property that will be given or pledged as collateral for a loan. 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...
