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Essay heading: Mortgages Terms
Essay specific features
| Issue: |
Business |
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| Date added: |
August 22, 2000 |
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| Grade: |
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| No of pages / words: |
6 / 1554 |
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0 times |
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Essay content:
Also called "settlement."
Condominium: A type of property ownership within a multiunit complex in which the homeowner owns a unit and a proportionate interest in certain common areas, such as the grounds of the complex.
Contingency: A condition that must be met before a contract is legally binding...
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Equity is the difference between the fair market value of a property and the amount still owed on the mortgage.
Escrow: The holding of documents and money by a neutral third party prior to closing; also, an account held by the lender (or servicer) into which a homeowner pays money for taxes and insurance...
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