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14 Cards in this Set
- Front
- Back
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Lawsuit pending against property |
Lis pendens |
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Gives lender the right to sell property without lawsuit |
Power of sale |
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The lender in a mortgage |
Mortgagee |
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1 percent of the loan amount |
Point |
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Judgement if sale of property does not pay off the loan |
Deficiency |
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Pledging property as security for a loan without giving up possession |
Hypothecation |
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Lender agrews to accept less then the loan balance |
Short sale |
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Type of forclosure process brought to court in a lawsuit |
Judicial |
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Clause that lets lender demand all payments immediately upon default |
Acceleration |
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The lender in a dees if trust |
Beneficiary |
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Secondary mortgage market for fha loans |
Fannie mae |
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Clause that ends the mortage when the loan is paid in full |
Defiance |
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Mortgage gives title to the lender until the debt is repaid |
Title theory |
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The deference between the value of the property and the loams against the property |
Equity |
