LISTING INFO 

Warranties Written guarantees of the quality of a product and the promise to repair or replace defective parts free of charge.   For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet...

Walk-Through A common clause in a sales contract that allows the buyer to examine the property being purchased at a specified time immediately before the closing, for example, within the 24 hours before closing.   For other words and definitions related to real...

VA Guaranteed Loan A mortgage loan that is guaranteed by the U.S. Department of Veterans Affairs (VA).   For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet InTouchEmail: 411@myersjackson.com...

Veterans Affairs (U.S. Department of Veterans Affairs) A federal government agency that provides benefits to veterans and their dependents, including health care, educational assistance, financial assistance, and guaranteed home loans.   For other words and...

Unsecured Loan A loan that is not backed by collateral.   For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet InTouchEmail: 411@myersjackson.com Phone: +1-844-400-2828 Phone +1-469-460-4848...

Uniform Residential Loan Application A standard mortgage application you will have to complete. The form requests your income, assets, liabilities, and a description of the property you plan to buy, among other things.   For other words and definitions related to...

Underwriting The process used to determine loan approval. It involves evaluating the property and the borrower’s credit and ability to pay the mortgage.   For other words and definitions related to real estate auctions For all active auctions, and properties for...

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...

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.   For...

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.   For other words and definitions related to...

Transfer Tax State or local tax payable when title to property passes from one owner to another.   For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet InTouchEmail: 411@myersjackson.com...

Trade Equity Real estate or assets given to the seller as part of the down payment for the property.   For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet InTouchEmail: 411@myersjackson.com...

Title Search A check of the public records to ensure that the seller is the legal owner of the property and to identify any liens or claims against the property.   For other words and definitions related to real estate auctions For all active auctions, and...

Title Insurance  Insurance that protects lenders and homeowners against legal problems with the title.   For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet InTouchEmail: 411@myersjackson.com...

Title The right to, and the ownership of, property. A title or deed is sometimes used as proof of ownership of land.   For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet InTouchEmail:...

Third-Party Origination A process by which a lender uses another party to completely or partially originate, process, underwrite, close, fund, or package a mortgage loan. See also “Mortgage Broker.”   For other words and definitions related to real estate...

Termite Inspection An inspection to determine whether a property has termite infestation or termite damage. In many parts of the country, a home must be inspected for termites before it can be sold.   For other words and definitions related to real estate...

Taxes and Insurance Funds collected as part of the borrower’s monthly payment and held in escrow for the payment of the borrower’s, or funds paid by the borrower for, state and local property taxes and insurance premiums.   For other words and definitions related...

Sweat Equity A borrower’s contribution to the down payment for the purchase of a property in the form of labor or services rather than cash.   For other words and definitions related to real estate auctions For all active auctions, and properties for sale...

Survey A precise measurement of a property by a licensed surveyor, showing legal boundaries of a property and the dimensions and location of improvements.   For other words and definitions related to real estate auctions For all active auctions, and properties...