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9 Cards in this Set
- Front
- Back
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provide new financing for, as by discharging a mortgage wi th the proceeds from a new mortgage obtained at a lower interest rate
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refinance
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the interest once you subtract down payment
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points
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when the bank reposes a house because the owner couldn't pay off the loan in time
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foreclosure
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a partial payment made at the time of purchase, with the balance to be paid later
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down payment
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a temporary, condidtional pledge of perpoerty to a creditor as security for performance of an obligation or repayment of a debt
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mortgage
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law stating that only certain buildings can be built in a certain area (keeps adult videw stores away from schools... etc)
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zoning laws
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fees and expenses, over and above the price of the property, incurred by the buyer and/or seller in the property ownershup transfer; title searches, lawyer fees, survey charges, deed filing fees, etc.
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closing costs
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a contract granting use or occupation of property during a specified period in exchange for a specified rent
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lease
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a document sealed as an instrument of bond, contract, or conveyance, especially relating to perpoert; a legal document signed and sealed and delivered to effect a transfer of property and to show the legal right to posesses it
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deed
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