LISTING INFO 

Lifetime Cap For an adjustable-rate mortgage (ARM), a limit on the amount that the interest rate or monthly payment can increase or decrease over the life of the loan.  Real estate words and definition For other words and definitions related to real estate auctions For all active auctions,...

Closing The process of completing a financial transaction. For mortgage loans, the process of signing mortgage documents, disbursing funds, and, if applicable, transferring ownership of the property. In some jurisdictions, closing is referred to as “escrow,” a process by which a buyer and seller...

Lien A claim or charge on property for payment of a debt. With a mortgage, the lender has the right to take the title to your property if you don’t make the mortgage payments.  Real estate words and definition For other words and definitions related to real estate auctions For all active...

Clear Title Ownership that is free of liens, defects, or other legal encumbrances.  Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet InTouchEmail: 411@myersjackson.com Phone:...

LIBOR-Index An index used to determine interest rate changes for certain adjustable-rate mortgage (ARM) plans, based on the average interest rate at which international banks lend to or borrow funds from the London Interbank Market.  Real estate words and definition For other words and...

Change Orders A change in the original construction plans ordered by the property owner or general contractor.  Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet InTouchEmail:...

Liability Insurance Insurance coverage that protects property owners against claims of negligence, personal injury or property damage to another party.  Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for...

Chain of Title The history of all of the documents that have transferred title to a parcel of real property, starting with the earliest existing document and ending with the most recent.  Real estate words and definition For other words and definitions related to real estate auctions For all...

Liabilities A person’s debts and other financial obligations.  Real estate words and definition 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...

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 For other words and definitions related to real estate auctions For all active auctions, and...