NH REAL ESTATE|NH HOMES|LAKE WINNIPESAUKEE REAL ESTATE|NH LAND|NH REALTORS Tim & Pam (603) 651-8806
Home|Towns|Lakes|Region|Buyers|Sellers|Contact|About Us|Featured Properties|Search NH MLS
Welcome to your resource for New Hampshire Lakes Region and Seacoast Real Estate.
REAL ESTATE GLOSSARY

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

BALANCE SHEET - A financial statement that shows assets, liabilities, and net worth as of a specific date.

BALLOON MORTGAGE - A mortgage that has level monthly payments that will amortize it over a stated term but that provides for a lump sum payment to be due at the end of an earlier specified term.

BALLOON PAYMENT - The final lump sum payment that is made at the maturity date of a balloon mortgage.

BANKRUPT - A person, firm, or corporation that, through a court proceeding, is relieved from the payment of all debts after the surrender of all assets to a court-appointed trustee.

BANKRUPTCY - A proceeding in a federal court in which a debtor who owes more than his or her assets can relieve the debts by transferring his or her assets to a trustee.

BEFORE-TAX INCOME - Income before taxes are deducted.

BENEFICIARY - The person designated to receive the income from a trust, estate, or a deed of trust.

BEQUEATH - To transfer personal property through a will.

BETTERMENT - An improvement that increases property value as distinguished from repairs or replacements that simply maintain value.

BILL OF SALE - A written document that transfers title to personal property.

BINDER - A preliminary agreement, secured by the payment of an earnest money deposit, under which a buyer offers to purchase real estate.

BIWEEKLY PAYMENT MORTGAGE - A mortgage that requires payments to reduce the debt every two weeks (instead of the standard monthly payment schedule). The 26 (or possibly 27) biweekly payments are each equal to one-half of the monthly payment that would be required if the loan were a standard 30-year fixed-rate mortgage, and they are usually drafted from the borrower's bank account. The result for the borrower is a substantial savings in interest.

BLANKET INSURANCE POLICY - A single policy that covers more than one piece of property (or more than one person).

BLANKET MORTGAGE - The mortgage that is secured by a cooperative project, as opposed to the share loans on individual units within the project.

BONA FIDE - In good faith, without fraud.

BOND - An interest-bearing certificate of debt with a maturity date. An obligation of a government or business corporation. A real estate bond is a written obligation usually secured by a mortgage or a deed of trust.

BREACH - A violation of any legal obligation.

BRIDGE LOAN - A form of second trust that is collateralized by the borrower's present home (which is usually for sale) in a manner that allows the proceeds to be used for closing on a new house before the present home is sold. Also known as "swing loan."

BROKER - A person who, for a commission or a fee, brings parties together and assists in negotiating contracts between them. See mortgage broker.

BUDGET - A detailed plan of income and expenses expected over a certain period of time. A budget can provide guidelines for managing future investments and expenses.

BUDGET CATEGORY - A category of income or expense data that you can use in a budget. You can also define your own budget categories and add them to some or all of the budgets you create. "Rent" is an example of an expense category. "Salary" is a typical income category.

BUILDING CODE - Local regulations that control design, construction, and materials used in construction. Building codes are based on safety and health standards.

BUYDOWN ACCOUNT - An account in which funds are held so that they can be applied as part of the monthly mortgage payment as each payment comes due during the period that an interest rate buydown plan is in effect.

BUYDOWN MORTGAGE - A temporary buydown is a mortgage on which an initial lump sum payment is made by any party to reduce a borrower's monthly payments during the first few years of a mortgage. A permanent buydown reduces the interest rate over the entire life of a mortgage.

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z


RE/MAX Realty Champions, 44 North Main Street, PO Box 566, Wolfeboro, NH 03894 Cell: (603) 651-8806 Office: (603) 569-3330 Fax: (603) 297-0031
Website: WWW.REINNH.COM      Tim Wade NH REALTOR      Email: LOOKING@REINNH.COM
 
©2007 WWW.REINNH.COM
 Equal Housing Opportunity.  
Each RE/MAX Office Is Independently Owned And Operated. All rights reserved.
© 2007 Northern New England Real Estate Network, Inc. All rights reserved. This information is deemed reliable but not guaranteed. The data relating to real estate for sale on this web site comes in part from the IDX Program of NNEREN. Subject to errors, omissions, prior sale, change or withdrawal without notice.  The agency referenced may or may not be the listing agency for the property listings displayed on this website.
HOME  |  NH HOME SEARH NOTIFIER  |  WHY A BUYERS AGENT  |  YOUR FIRST HOME  |  HOMEBUYERS GUIDE  |  MORTGAGE INFORMATION  |  MORTGAGE TYPES  |  HOME INSPECTION  |  RELOCATION  |  SELLING PRICE  |  SELLING   |  WHATS MY HOME WORTH?  |  SELLING YOUR HOME  |  SEACOAST NH  |  SURVIVING THE SALE  |  THE RIGHT SELLING PRICE  |  SWEET SMELL OF A SALE  |  SELLER'S TOOLKIT  |  HOME SELLER REPORTS  |  SELLING IN A BUYERS MARKET  |  SITE ASSESSMENT STUDY  |  FREE  |  RESOURCES  |  NH FACTS  |  NH LAKES  |  NH SCHOOL INFORMATION  |  NH TOWNS  |  LAKE WINNIPESAUKEE NH  |  GILFORD NH  |  GILMANTON NH  |  HOLDERNESS NH  |  LACONIA NH  |  MEREDITH NH  |  MOULTONBORO NH  |  NEW DURHAM NH  |  NEW HAMPTON NH  |  OSSIPEE NH  |  SANDWICH NH  |  SANBORNTON NH  |  TUFTONBORO NH  |  WOLFEBORO NH  |  Pam's Cleaning Service  |  About Century 21
 

Privacy Policy  |  Site Map  |  Profile  |  Sign In

Choose language: