LISTING INFO 

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...

Lease-Purchase Option An option sometimes used by sellers to rent a property to a consumer, who has the option to buy the home within a specified period of time. Typically, part of each rental payment is put aside for the purpose of accumulating funds to pay the down payment and closing costs....

Fixed-Period Adjustable-Rate Mortgage An adjustable-rate mortgage (ARM) that offers a fixed rate for an initial period, typically three to ten years, and then adjusts every six months, annually, or at another specified period, for the remainder of the term. Also known as a “hybrid loan.”...