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15 Cards in this Set
- Front
- Back
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A legal document executed by an owner of real estate by which the property is given as security for a payment of debt.
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Mortgage
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The seller of the property who receives the monthly payments and holds the mortgage contract as security.
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Mortgagee
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The owner of the real estate. Also the borrower making monthly payments to the mortgagee.
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Mortgagor
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A written document that states a promise to pay, and the terms which include the amount, interest rate and length of time.
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Note
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Someone who collects and organizes information about a cash flow and presents it to an investor or buyer, usually for a profit or finders fee.
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Note Finder
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The person(s) currently in ownership and possession of a note and entitled to collect all its remaining payments. May not be the original beneficiary.
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Note Holder
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Or Deed of Trust. A deed given by the borrower to a trustee to be held pending fulfillment of an obligation. This is the security instrument which pledges the property to insure payment on the note.
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Trust Deed
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One who holds property in trust for another to secure the performance of an obligation. Could also be a title company or attorney.
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Trustee
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The person who conveys property in trust. One who deeds his property to a trustee to be held as security until he has performed under the terms of a deed of trust.
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Trustor
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The person who makes the monthly payments to fulfill the terms of a note. It is also the mortgagor with a mortgage contract or trustor with a trust deed.
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Payor
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Your total return on an investment over a given period of time.
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Yield
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The percentage ratio between the amount of the total loans on a property and the property value.
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L.T.V.
Loan To Value |
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The percentage ratio between the total loans on the property, less your investment cost and the value of the property.
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I.T.V.
Investment to Value |
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Slang for referring a note to an investor and making quick cash profits.
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Flipping
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The person who purchases the real estate note you find.
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End Buyer
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