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FINANCE CHARGE The total of all costs imposed directly or indirectly by the creditor and payable either directly or indirectly by the customer, as defined under the federal Truth-in-Lending Law. AFFIDAVIT A sworn statement reduced to writing and made under oath before a Notary Public or other official authorized by law to administer an oath. LAND The surface of the earth extending down to the center and upward to the sky, including all natural things thereon such as trees, crops, or water; plus the minerals below the surface and the air rights above. DOUBLE ESCROW An escrow set up to handle the concurrent sale of one property and purchase of another property by same party. MORTGAGE BANKER An individual or company that originates and/or services mortgage loans. ANNUAL PERCENTAGE RATE The relationship of the total Finance Charge to the total amount to be finance as required under the Federal Truth-in-Lending Law. FINDER'S FEE A fee paid to someone for producing a buyer to purchase or a seller to list property; also called a referral fee. LANDLOCKED Real property having no access to a public road or way. |
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