Adjustable Mortgage Rate Loan
Adjustable Mortgage Rate Loan
Adjustable Mortgage Rate Loan

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Real Estate Terms of the Day for Adjustable Mortgage Rate Loan



MORTGAGOR
The borrower in a mortgage loan transaction.

CHAIN OF TITLE
The chronological order of conveyance of a property from the original owner to the present owner.

ZONING ORDINANCES (OR ZONING REGULATIONS)
Local law establishing building codes and usage regulations for properties in a specified area.

JUNIOR MORTGAGE
A mortgage which is subordinate in right or lien priority to an existing mortgage on the same realty, such as a second mortgage.

WAREHOUSING
A term used in financing to describe the process which loan correspondents employ, assembling into one package a number of mortgage loans which the correspondent has originated and selling them in the secondary mortgage market.

SETBACK
Zoning restrictions on the amount of land required surrounding improvements; the amount of space required between the lot line and the building line.

CHATTEL
Personal property which is tangible and moveable.

BLANKET MORTGAGE
A mortgage that covers more than one parcel of real estate.

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