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Fully Amortized Mortgage A mortgage in which the monthly payments are designed to retire the obligation at the end of the mortgage term.  Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale...

Eviction The legal act of removing someone from real property.  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...

Escrow Analysis The accounting that a mortgage servicer performs to determine the appropriate balances for the escrow account, compute the borrower’s monthly escrow payments, and determine whether any shortages, surpluses or deficiencies exist in the account.  Real estate words and definition...

Forfeiture The loss of money, property, rights, or privileges due to a breach of a legal obligation.  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...

Escrow Account An account that a mortgage servicer establishes on behalf of a borrower to pay taxes, insurance premiums, or other charges when they are due. Sometimes referred to as an “impound” or “reserve” account.  Real estate words and definition For other words and definitions related to...

Escrow An item of value, money, or documents deposited with a third party to be delivered upon the fulfillment of a condition. For example, the deposit by a borrower with the lender of funds to pay taxes and insurance premiums when they become due, or the deposit of funds or documents with an...

Equity The value in your home above the total amount of the liens against your home. If you owe $100,000 on your house but it is worth $130,000, you have $30,000 of equity.  Real estate words and definition For other words and definitions related to real estate auctions For all active...

Equal Credit Opportunity Act (ECOA) A federal law that requires lenders to make credit equally available without regard to the applicant’s race, color, religion, national origin, age, sex, or marital status; the fact that all or part of the applicant’s income is derived from a public assistance...

Foreclosure A legal action that ends all ownership rights in a home when the hoebuyer fails to make the mortgage payments or is otherwise in default under the terms of the mortgage.  Real estate words and definition For other words and definitions related to real estate auctions For all...

Encumbrance Any claim on a property, such as a lien, mortgage or easement.  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...