All > Business > Real Estate
The permanent (long term) financing of real estate after completion of construction. See "construction loan."
- Browse Related Terms: American Society of Home Inspectors, Broker, Closing Date, Commission, Exclusive Listing, FSBO (For Sale by Owner), key lot, Listing Agreement, Multiple Listing Service (MLS), Open House, Real Estate Agent, Real Estate Professional, REALTOR®, Savings and loan association (S&L), Take out loan, Trade Equity, Transfer Taxes
All > Business > Real Estate
An account required by some mortgage lenders to fund annual property tax assessments and hazard insurance premiums for the mortgaged property.
- Browse Related Terms: Average Price, Credit Loss Ratio, Deductible, flood insurance, Hazard Insurance, Home Warranty, Homeowner's insurance, Indemnification, insurance, Median Price, Mortgage servicing, Perils, Property insurance, Tax and insurance escrow, Taxes and Insurance
All > Business > Real Estate
Tax incentive programs designed to encourage, stimulate, or subsidize the ownership of real estate.
- Browse Related Terms: Blanket mortgage, Investment trust, Lender, Mortgagor, Real Estate Investment Trust (R.E.I.T.), Tax credit, Tax depreciation, Tax relief, Title Company
All > Business > Real Estate
A written document conveying title to property repossessed by the government due to default on tax payments.
- Browse Related Terms: Change Orders, cloud, Co-Borrower, Cooperative (Co-op) Project, Deed-in-Lieu of Foreclosure, Eminent Domain, fee simple, Foreclosure, Joint Tenancy (with Rights of Survivorship), Liability insurance, Owner's Policy, Pre-Foreclosure sale, tax deed, Title Defect, Title Insurance, Transfer Tax, Warranty deed
All > Business > Real Estate
A transaction in which a property is traded for the promise to provide a replacement like-kind property in the near future. Sometimes referred to as a Section 103 exchange.
- Browse Related Terms: Appraisal, appraisal fee, Appraiser, home inspection, Loan to Value (LTV) Ratio, Market value, Origination, property appraisal, Tax-free exchange, Warranties
All > Business > Real Estate
The deduction a taxpayer can take on their tax form for interest paid on a home mortgage. The amount of money that the homeowner is not required to pay the government in taxes because he or she owns a home.
- Browse Related Terms: Before-Tax Income, Delayed exchange, Front End Ratio, Homestead Credit, Income tax credit, Low-income housing, Mortgage Interest Deduction, Property Tax Deduction, Property tax relief, Real Estate Property Tax Deduction, tax savings
All > Business > Real Estate
As a part of PITI, the amount of the monthly mortgage payment which does not include the principal, interest, and insurance.
- Browse Related Terms: Additional Principal Payment, Annual Mortgagor Statement, Annuity, Charge-off, interest, Interest rate, Interest Rate Swap, Nonperforming Asset, Notional Principal Amount, open-end mortgage, Original Principal Balance, P&I, PITI Reserves, Premium, Remaining Balance, Right of rescission, Self-amortizing mortgage, taxes
Also listed in:
- All > Business > Finance > Personal Finance > Income Tax
All > Business > Real Estate
Funds collected as part of the borrower's monthly payment and held in escrow for the payment of the borrower's state and local property taxes and insurance premiums.
- Browse Related Terms: Average Price, Credit Loss Ratio, Deductible, flood insurance, Hazard Insurance, Home Warranty, Homeowner's insurance, Indemnification, insurance, Median Price, Mortgage servicing, Perils, Property insurance, Tax and insurance escrow, Taxes and Insurance
All > Business > Real Estate > Superfund
A Technical Assistance Grant (TAG) provides money for activities that help communities participate in decision-making at eligible Superfund sites. An initial grant up to $50,000 is available for any Superfund site that is on the National Priorities List (NPL) or proposed for listing on the NPL and a response action has begun.
- Browse Related Terms: Comprehensive Environmental Response, Compensation, and Liability Information System (CERCLIS), Construction Completion List (CCL), Hazard Ranking System (HRS), National Priorities List (NPL), No Further Remedial Action Planned (NFRAP), Preliminary Assessment / Site Inspection (PA/SI), Record of Decision (ROD), Remedial Design/Remedial Action (RD/RA), Remedial Investigation/Feasibility Study (RI/FS), Risk Assessment Guidance (RAGS), Superfund Chemical Data Matrix (SCDM), Technical Assistance Grants (TAG), Technical Outreach for Communities (TOSC)
All > Business > Real Estate > Superfund
Technical Assistance to Brownfields Communities (TAB) helps communities to clean and redevelop properties that have been damaged or undervalued by environmental contamination. The purpose of these efforts is to create better jobs, increase the local tax base, improve neighborhood environments, and enhance the overall quality of life.
- Browse Related Terms: Agency for Toxic Substances and Disease Registry (ATSDR), Community Advisory Groups (CAG), Data Element Dictionary (DED), Ecotox Thresholds (ET), Frequently Asked Questions (FAQ), Frequently Asked Questions About Contaminants Found at Hazardous Waste Sites (ToxFAQs), Integrated Exposure Uptake Biokinetic Model (IEUBK), Operations and Maintenance (O&M), Superfund Enhanced State and Tribal Role Initiative (STROLE), Superfund Job Training Initiative (SUPERJTI), Technical Assistance to Brownfields Communities (TAB), Technical Review Workgroup for Lead (TRW)
All > Business > Real Estate > Superfund
Technical Outreach for Communities (TOSC) uses educational and technical resources to help community groups understand the technical issues involving the hazardous waste sites in their midst. TOSC aims to empower communities to participate substantively in the decision-making process regarding their hazardous substance problems.
- Browse Related Terms: Comprehensive Environmental Response, Compensation, and Liability Information System (CERCLIS), Construction Completion List (CCL), Hazard Ranking System (HRS), National Priorities List (NPL), No Further Remedial Action Planned (NFRAP), Preliminary Assessment / Site Inspection (PA/SI), Record of Decision (ROD), Remedial Design/Remedial Action (RD/RA), Remedial Investigation/Feasibility Study (RI/FS), Risk Assessment Guidance (RAGS), Superfund Chemical Data Matrix (SCDM), Technical Assistance Grants (TAG), Technical Outreach for Communities (TOSC)
All > Business > Real Estate > Superfund
The Technical Review Workgroup for Lead (TRW) and the Integrated Exposure Uptake Biokinetic Model for Lead in Children (IEUBK) is an interoffice workgroup convened by the U.S. EPA Office of Solid Waste and Emergency Response/Office of Emergency and Remedial Response (OSWER/OERR). Its goal is to support and promote consistent application of the best science in the field of lead (Pb) risk assessment at contaminated sites nationwide.
- Browse Related Terms: Agency for Toxic Substances and Disease Registry (ATSDR), Community Advisory Groups (CAG), Data Element Dictionary (DED), Ecotox Thresholds (ET), Frequently Asked Questions (FAQ), Frequently Asked Questions About Contaminants Found at Hazardous Waste Sites (ToxFAQs), Integrated Exposure Uptake Biokinetic Model (IEUBK), Operations and Maintenance (O&M), Superfund Enhanced State and Tribal Role Initiative (STROLE), Superfund Job Training Initiative (SUPERJTI), Technical Assistance to Brownfields Communities (TAB), Technical Review Workgroup for Lead (TRW)
All > Business > Real Estate > Superfund
The Technology Innovation Office (TIO) of the U.S. Environmental Protection Agency was created in 1990 to act as an advocate for new technologies. TIO's mission is to increase the applications of innovative treatment technologies to contaminated waste sites, soils, and groundwater.
- Browse Related Terms: Contract Laboratory Program (CLP), Environmental Justice (EJ), Hazardous Substance Research Centers, INFOTERRA, National Institute of Environmental Health Sciences (NIEHS), Office of Research and Development (ORD), Office of Solid Waste and Emergency Response (OSWER), Office of Superfund Remediation and Technology Innovation (OSRTI), Outreach and Special Projects Staff (OSPS), Superfund Amendments and Reauthorization Act (SARA), Technology Innovation Office (TIO)
All > Business > Real Estate
- joint tenancy - equal ownership of property by two or more parties, each with the right of survivorship.
- tenancy by the entireties - ownership of property only between husband and wife in which neither can sell without the consent of the other and the property is owned by the survivor in the event of death of either party.
- tenancy in common - equal ownership of property by two or more parties without the right of survivorship.
- tenancy in severalty - ownership of property by one legal entity or a sole party.
- tenancy at will - a license to use or occupy a property at the will of the owner.
- Browse Related Terms: Arbitration, Architect, co-mortgagor, covenants, Day, Easement, Easements, Encroachments, Engineer, Forfeiture, Notice of Default, Planned Unit Development (PUD), Power of attorney, Property (Fixture and Non-Fixture), Survey, tenancy
All > Business > Real Estate
The time during which principal and/or interest payments must be made. Generally the time needed to amortize the loan fully.
The period from the time that a loan is made until it is fully paid.
- Browse Related Terms: amortization, balloon mortgage, Balloon note, Balloon Payment, biweekly mortgage, Biweekly Payment Mortgage, curtailments, fifteen-year mortgage, Flexible payment mortgage (FPM), Installment Debt, Interest-only loan, Level payment mortgage, Mortgage Life and Disability Insurance, Negative amortization, Partial Payment, Prepayment, Prepayment penalty, Prepayment Penalty Mortgage (PPM), Principal and interest payment (P & I), Remaining Term, Reverse annuity, term
Also listed in:
- All > Business > Finance > Personal Finance
- All > Business > Finance > Personal Finance > Mortgage
- All > Technology > Programming > Perl
All > Business > Real Estate
An inspection to determine whether a property has termite infestation or termite damage. In many parts of the country, a home must be inspected for termites before it can be sold.
- Browse Related Terms: Appraised Value, Appreciation, Cloud On The Title, Comparables, Comparative Market Analysis (COMPS), Depreciation, Encroachment, Eviction, Fire insurance, Grantee, Grantor, income approach to value, Loan-to-value ratio (LTV), Real Estate, Real estate tax, Secured Loan, security, Single-Family Properties, Soft Second Loan, Termite Inspection
All > Business > Real Estate
The period of time and the interest rate agreed upon by the lender and the borrower to repay a loan.
Conditions and arrangements specified in the mortgage contract, such as interest rate, required payments, etc.
- Browse Related Terms: Chapter 13 Bankruptcy, Default, Delinquency, Forbearance, Fully Amortized Mortgage, Holder, Installment, Late Charge, Late Payment Charges, Payment Due Date, Prepayment penalty clause, Repayment Plan, reverse annuity mortgage, Terms
Also listed in:
All > Business > Real Estate
Hard fired clay, either glazed or unglazed, molded into ornamental elements, wall cladding, and roof tiles.
- Browse Related Terms: Balustrade, Bay Window, Clapboard Wood, Cornice, Cresting, Cupola, Eave, Finial, Parapet, Portico, Shingle, Terra cotta
All > Business > Real Estate
Similar to a "second mortgage." See also "second mortgage" under "mortgage."
- Browse Related Terms: All-inclusive deed of trust, End loan, Interim loan, Junior mortgage, Permanent mortgage, Piggyback loan, second mortgage, Third mortgage, Underlying mortgage, Wraparound mortgage
All > Business > Real Estate
A process by which a lender uses another party to completely or partially originate, process, underwrite, close, fund, or package a mortgage loan. See also "Mortgage Broker"
A process by which a lender uses another party to completely or partially originate, process, underwrite, close, fund, or package the mortgages it plans to deliver to the secondary mortgage market.
- Browse Related Terms: application, Bridge Loan, construction loan, Down Payment, Homeownership Education Classes, Loan Fraud, Loan Officer, Loan Origination, Loss Mitigation, Mortgage banker/Mortgage company, mortgage broker, mortgage lender, Mortgage Qualifying Ratio, Pre-Qualify, Repointing, Third Party Origination, Veterans' Administration (VA)