LISTING INFO

Homeowner’s Warranty (HOW) Insurance offered by a seller that covers certain home repairs and fixtures for a specified period of time.  Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet...

Homeowner’s Insurance A policy that protects you and the lender from fire or flood, which damages the structure of the house; a liability, such as an injury to a visitor to your home; or damage to your personal property, such as your furniture, clothes or appliances.  Real estate words and...

Home Inspection A professional inspection of a home to determine the condition of the property. The inspection should include an evaluation of the plumbing, heating and cooling systems, roof, wiring, foundation and pest infestation.  Real estate words and definition For other words and...

Home Equity Line of Credit (HELOC) A type of revolving loan, that enables a home owner to obtain multiple advances of the loan proceeds at his or her own discretion, up to an amount that represents a specified percentage of the borrower’s equity in the property.  Real estate words and...

Home Equity Conversion Mortgage (HECM) A special type of mortgage developed and insured by the Federal Housing Administration (FHA) that enables older home owners to convert the equity they have in their homes into cash, using a variety of payment options to address their specific financial needs....

Hazard Insurance Insurance coverage that compensates for physical damage to a property from fire, wind, vandalism, or other covered hazards or natural disasters.  Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and...

Growing-Equity Mortgage (GEM) A fixed-rate mortgage in which the monthly payments increase according to an agreed-upon schedule, with the extra funds applied to reduce the loan balance and loan term.  Real estate words and definition For other words and definitions related to real estate...

Ground Rent Payment for the use of land when title to a property is held as a leasehold estate (that is, the borrower does not actually own the property, but has a long-term lease on it).  Real estate words and definition For other words and definitions related to real estate auctions For all...

Executor A person named in a will and approved by a probate court to administer the deposition of an estate in accordance with the instructions of the will.  Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and...

Gross Monthly Income Ground Rent The income you earn in a month before taxes and other deductions. It also may include rental income, self-employed income, income from alimony, child support, public assistance payments, and retirement benefits.  Real estate words and definition For other...