|
| Michigan Mortgage Rate |
|
Menu
|
Free Classifieds and Advertising for Individuals and Businesses at www.KeepSane.com
FEDERAL HOUSING ADMINISTRATION (FHA) A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans. BUDGET MORTGAGE A mortgage with payments set up to cover more than interest and principal reductions. PENTHOUSE An apartment located on the roof of a building, or more commonly, an apartment on the top floor of a building. BLUE SKY LAWS State securities laws designed to protect the public from fraudulent practices in the promotion and sale of securities, e.g., through limited partnerships, syndications, bonds. INCOME APPROACH An approach to the valuation or appraisal of real property as determined by the amount of net income the property will produce over its remaining economic life. EXTENDER CLAUSE A "carry over" clause (referred to as a safety clause) contained in a listing which provides that a broker is still entitled to a commission for a set of period of time after the listing has expired if the property is sold to a former prospect of the broker. |
Copyright © 2004-2005 | www.WeWillBuyYourHouseFast.com | Privacy Policy |