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Mortgage Glossary
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- Land and anything permanently affixed to the land, and those things attached to the building.
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- Registered name for a member of the National Association of Realtors.
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- Salesperson associated with a broker who is member of a Board of Realtors.
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- Setting forth in a deed or other writing some explanation for the transaction.
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- The right of the holder of note secured by a mortgage or deed of trust to look personally to the borrower or endorser for payment.
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- The practice of refusing to provide loans or insurance in a certain neighborhood.
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- The repayment of a debt from the proceeds of a new loan using the same property as security.
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- A charge for a title insurance policy if a previous policy on the same property was issued within a specified period. Reissue is less than the original charge.
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- A method in investing real estate in a group, with certain tax advantages.
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- Annulling a contract and placing the parties to it in a position as if there had not been a contract.
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- An instrument releasing property from the lien of the mortgage, judgment, etc.
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- A federal statute requiring disclosure of certain costs in the sale of residential improved property which is to be financed by a federally insured lender.
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- Formerly federal tax on a sale of real property. Canceled and replaced by state tax stamps.
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- A special program for the elderly that provides income until death. Payment requirements are arranged through the increase in the principal amount of the loan.
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