Real Estate

  1. American Debt: Mortgage Debt Reaches $8.94 Trillion in 1Q 2018

    In the fourth quarter of 2017, mortgage debt is up $402 billion from the fourth quarter of 2016. Is this a good or a bad ...
  2. Murabaha

    Murabaha is an Islamic financing structure in which an intermediary buys a property with free and clear title.
  3. Realtor

    A realtor is a real estate professional who is a member of the National Association of Realtors.
  4. Hard Money Loan

    A hard money loans is a short-term loan backed by the value of the property used as collateral and not by the credit worthiness ...
  5. Restrictive Covenant

    A restrictive covenant is an agreement that requires the buyer to either perform or abstain from a specific action.
  6. Cross Collateralization

    Cross collateralization is the act of using one asset as collateral to secure multiple loans or multiple assets to secure ...
  7. Best and Final Offer

    A best and final offer is a prospective buyer's last and highest offer submitted in a bidding war for a property.
  8. Counteroffer

    A counteroffer is a proposal that is made as a result of an undesirable offer. A counteroffer revises the initial offer and ...
  9. Exotic Mortgage

    An exotic mortgage is a type of home loan that offers lower monthly payments initially, but is considered high-risk because ...
  10. Sweat Equity

    Sweat equity is the unpaid labor employees and cash-strapped entrepreneurs put into a project, whether it be a start-up venture ...
  11. Gazunder

    Gazunder is a colloquial term used in the United Kingdom when a real estate buyer lowers their offer despite already having ...
  12. Home Debtor

    A home debtor is an owner of a mortgaged home.
  13. Timeshares: Dream vacation or money pit?

    Everything you need to know about timeshares. This popular real estate product has its advantages, but don't expect to make ...
  14. Graduation Period

    A graduation period is the time during repayment of a graduated payment mortgage when payments steadily rise.
  15. National Association Of Mortgage Brokers - NAMB

    An association that represents the interests of mortgage brokers in the United States.
  16. Gift of Equity

    A gift of equity is the sale of a home made to someone with whom the seller has had a previous relationship, at a price below ...
  17. Adjustment Index

    An adjustment index is a formula or numerical value that is used to modify or improve a data set.
  18. Co-mortgagor

    A co-mortgagor is an individual or party who, along with a co-borrower, applies for and assumes responsibility for repayment ...
  19. Mandatory Mortgage Lock

    A mandatory mortgage lock requires a seller selling a mortgage in the secondary mortgage market to make the delivery to the ...
  20. Periodic Interest Rate Cap

    A periodic interest rate cap refers to the maximum interest rate adjustment allowed during a particular period of an adjustable ...
  21. Required Cash

    Required cash is the total amount of funds which a buyer must deliver to close on a mortgage or to finalize a refinance of ...
  22. Shared Equity Mortgage

    A shared equity mortgage is an arrangement under which a lender and a borrower share ownership of a property, with the borrower ...
  23. Interest Rate Reduction Refinance Loan (IRRRL)

    An interest rate reduction refinance loan is a mortgage refinancing program offered by the U.S. Department of Veterans Affairs ...
  24. 3-2-1 Buy-Down Mortgage

    A 3-2-1 buy-down mortgage allows the borrower to lower the interest rate over the first three years through an up-front payment.
  25. Buying a Home and Financial Planning

    The decision to purchase a home needs to be made within the context of your overall financial plan.
  26. Two-Step Mortgage

    A two-step mortgage offers an initial interest rate for an agreed-upon introductory period after which the loan is adjusted ...
  27. Adjustment Frequency

    Adjustment frequency refers to the rate at which an adjustable-rate mortgage rate is adjusted once the initial period has ...
  28. Unsecured

    Unsecured refers to a loan or equity interest that is given without requiring a lien against collateral of equal or higher ...
  29. Price Level Adjusted Mortgage (PLAM)

    A price level adjusted mortgage (PLAM) is a graduated-payment mortgage where the lender revises the homebuyer's principal ...
  30. Home Affordable Modification Program (HAMP)

    The Home Affordable Modification Program (HAMP) was a federal loan modification program from 2009-2016 to help homeowners ...
  31. Combination Loan

    A combination loan is a transaction consisting of two separate mortgage loans by the same lender, for the same borrower.
  32. Monthly Treasury Average Index (MTA Index)

    The Monthly Treasury Average (MTA) is an interest index used to set the interest rate for some adjustable rate mortgages ...
  33. Seller Financing

    Seller financing refers to a real estate agreement where financing is provided by the seller is included in the purchase ...
  34. Qualification Ratio

    A qualification ratio notes the proportion of either debt to income or housing expense to income.
  35. Buy-Up

    A buy-up, also known as negative points, is a rebate paid by a lender to a borrower, or mortgage broker, for a home loan, ...
  36. Participation Mortgage

    A participation mortgage allows the lender to share in part of the income or resale proceeds of a property, becoming an equity ...
  37. Convertible ARM

    A convertible ARM is an adjustable rate mortgage with the option to convert to a fixed-rate mortgage after a specified period ...
  38. Deficiency Judgment

    A deficiency judgment is a court ruling against a debtor in default on a secured loan when the sale of property did not cover ...
  39. Flexible Payment ARM

    ​​​​​​​A flexible payment ARM was a type of adjustable-rate mortgage that allowed the borrower to select from four different ...
  40. Take-Out Commitment

    A take-out commitment guarantees a bank will issue a mortgage for a property after construction, allowing the developer to ...
  41. 2/28 Adjustable-Rate Mortgage (2/28 ARM)

    A 2/28 adjustable-rate mortgage (2/28 ARM) has an initial two-year fixed interest rate period, after which the rate floats ...
  42. Nonconforming Mortgage

    A nonconforming mortgage is one which cannot be sold by a bank to Fannie Mae or Freddie Mac commonly because it is too large ...
  43. Seller-Paid Points

    Seller-paid points are a form of discount offered on real estate.
  44. Consolidated Mortgage Bond

    A consolidated mortgage bond is one that consolidates the issues of multiple properties
  45. Mortgage Equity Withdrawal - MEW

    Mortgage equity withdrawal (MEW) reefers to the removal of equity from the value of a home through a loan against the market ...
  46. Low-Income Housing Tax Credit

    The Low-Income Housing Tax Credit provides an incentive for home developers to build, buy and refurbish housing for low-income ...
  47. Bi-weekly Mortgage

    A bi-weekly mortgage is a mortgage product which requires the borrower to make payments every two weeks rather than once ...
  48. 3/27 Adjustable-Rate Mortgage - 3/27 ARM

    A 3/27 adjustable-rate mortgage, or 3/27 ARM, is a 30-year mortgage frequently offered to subprime borrowers.
  49. Junk Fees

    Junk fees are unnecessary or excessive charges included in the process of closing on a real estate purchase.
  50. 80-10-10 Mortgage

    An 80-10-10 mortgage "piggybacks" a 10 percent home equity loan on top of a conventional 80 percent mortgage, leaving a 1 ...
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