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Real Estate - Income before taxes are deducted. Also known as "gross income."
Federal Trade Commission - Cite This Source - This Definition - Browse Related Terms: Gross Income, Gross Monthly Income, Income tax credit, Keogh Funds, Low-income housing, Mortgage Interest Deduction, net income, Net Monthly Income, Property Tax Deduction, Real Estate Property Tax Deduction, Return On Average Common Equity, tax savings
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Real Estate - A single mortgage covering more than one parcel of real estate, such as a mortgage covering all the lots of a builder in a subdivision. For this survey, the real estate covered by a blanket mortgage is considered one property.
U.S. Census Bureau - Cite This Source - This Definition - Browse Related Terms: assignment, Estate, Eviction, Executor, Fixture, Grantee, Grantor, Lender, Personal property, Property (Fixture and Non-Fixture)
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Real Estate - In good faith, without fraud.
Federal Trade Commission - Cite This Source - This Definition - Browse Related Terms: closing (or settlement) costs, Closing statement, Good faith estimate, HUD-1 Settlement Statement, HUD1 Statement, No Cost Loan, Real Estate Settlement Procedures Act (RESPA), RESPA, settlement costs, Settlement Statement, Uniform Settlement Statement
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Real Estate - A form of interim loan, generally made between a short-term loan and a permanent (long-term) loan, when the borrower needs to have more time before taking the long-term financing. For this survey, this is not a mortgage.
U.S. Census Bureau - Cite This Source - This Definition - A short-term loan paid back relatively fast. Normally used until a long-term loan can be processed.
US Department of Housing and Urban Development - Cite This Source - This Definition - A loan to "bridge" the gap between the termination of one mortgage and the beginning of another, such as when a borrower purchases a new home before receiving cash proceeds from the sale of a prior home. Also known as a swing loan.
Ginnie Mae - Cite This Source - This Definition - A short-term loan secured by the borrower's current home (which is usually for sale) that allows the proceeds to be used for building or closing on a new house before the current home is sold. Also known as a "swing loan."
Federal Trade Commission - Cite This Source - This Definition - Browse Related Terms: Construction Loan, End loan, General Contractor, Interim loan, Piggyback loan, Punch List, Savings and loan association (S&L), Take out loan
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Real Estate - A licensed individual or firm that charges a fee to serve as the mediator between the buyer and seller. Mortgage brokers are individuals in the business of arranging funding or negotiating contracts for a client, but who does not loan the money. A real estate broker is someone who helps find a house.
US Department of Housing and Urban Development - Cite This Source - This Definition - An intermediary between the borrower and the lender. The broker may represent several lending sources and charges a fee or commission for services.
Ginnie Mae - Cite This Source - This Definition - An individual or firm that acts as an agent between providers and users of products or services, such as a mortgage broker or real estate broker.
See also "Mortgage Broker"
Federal Trade Commission - Cite This Source - This Definition - Browse Related Terms: Commission, Exclusive Listing, FSBO (For Sale by Owner), key lot, Multiple Listing Service (MLS), Open House, Real Estate, Real Estate Agent, Real Estate Professional, Real estate tax, REALTOR®, Tax credit, Tax depreciation, Tax relief, Trade Equity, Transfer Taxes
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