Ad valorem tax: Lending and Finance | Real Estate Terms & Definitions
Key Real Estate Terms for Successful Transactions Knowledge is Power Explore the Entire Real Estate Glossary Real Estate Glossary Terms for Lending and Finance: Ad valorem tax A property tax based on the assessed value of a property, typically levied by local governments to fund public services. *As with all financial transactions you should seek […]
Right of redemption: Lending and Finance | Real Estate Terms & Definitions
Key Real Estate Terms for Successful Transactions Knowledge is Power Explore the Entire Real Estate Glossary Real Estate Glossary Terms for Lending and Finance: Right of redemption A legal right that allows a borrower to reclaim their property after a foreclosure by paying the outstanding mortgage balance, plus any fees and penalties, within a specified […]
Wraparound mortgage: Lending and Finance | Real Estate Terms & Definitions
Key Real Estate Terms for Successful Transactions Knowledge is Power Explore the Entire Real Estate Glossary Real Estate Glossary Terms for Lending and Finance: Wraparound mortgage A type of seller financing in which the seller extends a new loan to the buyer, encompassing the balance of the existing mortgage, with the buyer making payments to […]
Home equity conversion mortgage (HECM): Lending and Finance | Real Estate Terms & Definitions
Key Real Estate Terms for Successful Transactions Knowledge is Power Explore the Entire Real Estate Glossary Real Estate Glossary Terms for Lending and Finance: Home equity conversion mortgage (HECM) A type of reverse mortgage insured by the federal housing administration, allowing homeowners aged 62 or older to convert a portion of their home equity into […]
Reverse mortgage: Lending and Finance | Real Estate Terms & Definitions
Key Real Estate Terms for Successful Transactions Knowledge is Power Explore the Entire Real Estate Glossary Real Estate Glossary Terms for Lending and Finance: Reverse mortgage A type of loan that allows homeowners to convert some of the equity in their home into cash, without having to sell the property. *As with all financial transactions […]
Non-recourse debt: Lending and Finance | Real Estate Terms & Definitions
Key Real Estate Terms for Successful Transactions Knowledge is Power Explore the Entire Real Estate Glossary Real Estate Glossary Terms for Lending and Finance: Non-recourse debt A type of debt in which the lender has no recourse to the borrower’s personal assets if the loan is not repaid. *As with all financial transactions you should […]
Home equity loan: Lending and Finance | Real Estate Terms & Definitions
Key Real Estate Terms for Successful Transactions Knowledge is Power Explore the Entire Real Estate Glossary Real Estate Glossary Terms for Lending and Finance: Home equity loan A loan that allows homeowners to borrow against the equity in their property, often used for home improvements, debt consolidation, or other financial needs. *As with all financial […]
Mortgage: Lending and Finance | Real Estate Terms & Definitions
Key Real Estate Terms for Successful Transactions Knowledge is Power Explore the Entire Real Estate Glossary Real Estate Glossary Terms for Lending and Finance: Mortgage A loan secured by a property, used to finance the purchase of the property. *As with all financial transactions you should seek professional guidance from a qualified advisor like an […]
Foreclosure: Lending and Finance | Real Estate Terms & Definitions
Key Real Estate Terms for Successful Transactions Knowledge is Power Explore the Entire Real Estate Glossary Real Estate Glossary Terms for Lending and Finance: Foreclosure The legal process by which a lender reclaims a property due to the borrower’s failure to make mortgage payments. *As with all financial transactions you should seek professional guidance from […]
Equity sharing: Lending and Finance | Real Estate Terms & Definitions
Key Real Estate Terms for Successful Transactions Knowledge is Power Explore the Entire Real Estate Glossary Real Estate Glossary Terms for Lending and Finance: Equity sharing A co-ownership arrangement in which two or more parties contribute to the purchase or improvement of a property, sharing the property’s appreciation and rental income. *As with all financial […]