Categories Home Ownership

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Broker

A broker is an individual who purchases or sells assets for other individuals or businesses.

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Escrow

An escrow is a deposit of funds by one party for the delivery to another upon fulfillment of contractually-agreed upon conditions.

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Fixed Rate Mortgage

A fixed rate mortgage is one in which the interest rate does not change during the entire term.

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Foreclosure

Foreclosure is a legal matter in which an individual loses his/her right to property due to defaulting on payments.

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Home Equity Loan

A home equity loan is a loan that uses the borrower’s household as security for the loan.

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Mortage

A mortgage is a loan to finance the purchase of your home.

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Short Sale

A short sale refers to sale of real estate in which the proceeds are less than the amount owed on the property.

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Upside Down

Upside down refers to a home’s value being less than the amount owed on it.

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