VA Loan

By |2020-11-18T12:08:49+00:00November 18, 2020||

A loan guaranteed by the U.S. Department of Veterans Affairs (VA). VA loans are made to honorably discharged veterans or their unremarried widows or widowers. Such loans require a minimal or no down payment and [...]

Town House

By |2020-11-18T12:09:02+00:00November 18, 2020||

Also known as a row house, generally refers to a type of dwelling having two floors, with the living area and kitchen on the first floor, and the bedrooms on the second. Town houses share [...]

Title Search

By |2020-11-18T12:09:02+00:00November 18, 2020||

An examination of the public records to determine whether the current title is clear or defective.

Title Insurance

By |2020-11-18T12:09:02+00:00November 18, 2020||

An insurance policy that protects against losses arising from title defects such as forged or misfiled documents.

Short Sale

By |2020-11-18T12:09:15+00:00November 18, 2020||

To sell a home through negotiation with the bank or lender, who agrees to accept less than the full amount owed to satisfy the debt allowing the debt to be ‘paid off’, short. Short sales [...]

Short Refinance

By |2020-11-18T12:09:15+00:00November 18, 2020||

Short refinance is the replacement of a mortgage, usually with a reduced mortgage, when the borrower is already in default. This is done to transition the borrower to a more affordable payment structure. The lender [...]

Serious Delinquency

By |2020-11-18T12:09:15+00:00November 18, 2020||

A single-family mortgage that is 90 days or more past due, or a multifamily mortgage that is two months or more past due.

Residential Sales Council

By |2020-11-18T12:09:31+00:00November 18, 2020||

A not-for-profit affiliate of the NATIONAL ASSOCIATION OF REALTORS®. The Council awards the Certified Residential Specialist (CRS) Designation, to experienced members who have completed an advanced course of study in residential real estate.


By |2020-11-18T12:09:31+00:00November 18, 2020||

Obtaining a new loan to pay off an existing loan. Refinancing is a popular practice when interest rates drop.

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