Term is life insurance you rent.
The lender looks to the credit of the borrower and the security of the property to insure payment of the debt.
Seems like the only fans are the the people who sell.).TOP Balloon Mortgage A loan which is amortized for a longer period than the term of the loan.Lessee - The person to whom property is rented or leased; called a tenant in most residential leases.TOP Lifetime Payment Cap For an adjustable rate mortgage (ARM) a limit on the amount that payments can increase or decrease over the life of the mortgage.Also used for non profits, specialized companies and individuals.Should any of the joint tenancy owners dream woman wanted episode 0026 die, no interest in the property can be man looking for a woman oldenburg transferred by will as the remaining joint tenant(s) acquires all ownership.
The loan balance therefore increases instead of decreasing.
A real estate agent must be licensed under the laws of their state.
TOP Sweat Equity Equity created by a purchaser performing work on a property being purchased.
Adjustable Rate Mortgage (ARM) - A mortgage whose interest rate over the life of the loan is not necessarily the same as the original interest rate at the loan inception. .
Common Areas - The space that is shared among all property owners. .With the whole life, you shelled out 121,000 more than you did for the term policy.Fair Market Value - A median price based on the highest price a willing buyer would be willing to pay and the lowest price a willing seller would be willing to accept in a competitive market.(Example, power companies sometimes need a right of way for power lines.) Closing documents and/or land surveys will describe and show such easements.FHA - An agency of the.S.TOP Adjustment Interval On an adjustable rate mortgage the time between changes in the interest rate and/or monthly payment typically one three or five years depending on the index.