Mortgage Glossary of Refinance Terms and Real Estate Principles

ALT-A: IF YOU ASK 5 DIFFERENT MORTGAGE PERSONS WHAT THEY ARE, YOU ARE LIKELY TO GET 5 DIFFERENT ANSWERS. HOWEVER, MOST WILL PROBABLY BE PRETTY CLOSE, JUST A BIT DIFFERENT PERSPECTIVE. "A c...

http://california-property-listings.blogspot.com/2008/12/alt-what-is-it-and-does-it-still-exist.html

Real Estate Agent Gina B. Gonzales YOU MAY BE FACED WITH FEES IN TERMS OF MORTGAGE POINTS AS PART OF OWNING A HOME. You can often deduct points on your taxes by paying mortgage points. S...

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DO YOU RENT PROPERTY TO OTHERS?  You must report the rent as income on your taxes. You can deduct, or subtract, your rental expenses (money you spent in your actions as the owner renting ...

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Veterans Home Loan Information A LOW-COST LOAN FOR U.S. VETERANS THAT IS PARTIALLY GUARANTEED BY THE DEPARTMENT OF VETERANS AFFAIRS (VA). If you are a veteran, you can get some VA loans ...

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Embed Articles A LOAN THAT IN THE EVENT OF FORECLOSURE IS PAID OFF AFTER THE FIRST MORTGAGE. You can have one or more mortgages on your property. Buyers often use SECOND MORTGAGES when t...

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THE DATE WHEN YOU LAST MISSED A REGULAR MONTHLY PAYMENT The date of last delinquency shows up on your credit report, a document that outlines your credit history and current credit. EVEN IF YO...

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THE FBI and the U.S. DEPARTMENT OF HOUSING and URBAN DEVELOPMENT OFFICE OF INSPECTOR GENERAL (HUD-OIG) urge consumers, especially senior citizens, to be vigilant when seeking reverse mortgage p...

http://california-property-listings.blogspot.com/2014/10/tips-for-avoiding-reverse-mortgage-scams.html

WHAT IS A DEED OF RECORD? TO MAKE A DOCUMENT (RECORD) AVAILABLE TO THE PUBLIC Your home’s purchase is official the moment that you record the deed at the county courthouse. Usually, the t...

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By J.N. SBRANTI jnsbranti@modbee.com last updated: October 10, 2014 11:23:07 PM COURTHOUSE-STEP AUCTIONS OFFER 1,336 PROPERTIES IN FORECLOSURE AND 17 ARE SOLD. Another foreclosure reco...

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WHEN A LENDER TAKES POSSESSION OF A HOME AND SELLS IT IN ORDER TO REPAY A LOAN IN DEFAULT When a homeowner can not repay (defaults on) the MORTGAGE and negotiations for an alternative payment ...

http://california-property-listings.blogspot.com/2006/04/foreclosure.html

EXPERTS SAY that estimating how FREQUENTLY CONFIDENTIAL MORTGAGE DATA IS LEAKED is difficult, because many breaches go unnoticed. For three days in July, however, Bob Segall, a reporter at WTHR...

http://california-property-listings.blogspot.com/2014/10/confidential-mortgage-data-is.html

A LINE OF CREDIT, SECURED BY A PROPERTY, THAT ALLOWS OWNERS TO TAP INTO THEIR HOME’S EQUITY You can get a line of credit equal to your home’s EQUITY that works like your checking account ...

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THE COST FOR BORROWING A LENDER’S MONEY Interest rate takes into account the lender’s risk and how much it costs the lender to get the money for a loan. The more risk the lender takes, the...

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A LOAN THAT HAS A FLUCTUATING INTEREST RATE and monthly payment ARMs start off with a fixed interest rate and monthly payment, but then adjust to reflect changes in the market interest rate. ...

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A COMPANY THAT HELPS A BORROWER GET A LOAN IN RETURN FOR A FEE Mortgage brokers don’t lend money - they help you shop for the best loan from a selection of lenders. Since mortgage brokers get...

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A LOAN WITH THE SAME INTEREST RATE AND PAYMENT FOR THE LIFE OF THE LOAN When you lock in the interest rate for a fixed rate loan , you’ll have the same rate and monthly payment for the loan�...

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A LOAN FOR HOME OWNERS WHO HAVE ALREADY PAID OFF THEIR MORTGAGE BUT WANT TO TAP INTO THEIR HOME’S EQUITY Reverse mortgages come in handy for older home owners who might have a financial hard...

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1. Rights, interests, and benefits inherent in the ownership of real estate, as distinguished from personal property; frequently thought of as a bundle of rights. 2. Real estate may be loosely...

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THE LAW recognizes different sorts of interests, called estates, in real property. The type of estate is generally determined by the language of the deed, lease, or bill of sale through which the...

http://california-property-listings.blogspot.com/2008/07/estates-ownership-interests-defined.html

THE DIVISION OF LAND INTO RESIDENTIAL, COMMERCIAL, INDUSTRIAL AND RURAL DISTRICTS. Zoning laws, which came about in the 1920s, serve to protect the public’s safety. Zoning laws restrict the ...

http://california-property-listings.blogspot.com/2008/01/zoning-ordinance.html

A TYPE OF FINANCING WHERE THE SELLER CARRIES THE BUYER'S LOAN. Wraparound mortgages are a creative, though rare, way to allow buyers to purchase a home without having to qualify for a loan or to...

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A DOCUMENT FROM A BANK VOUCHING FOR THE BALANCE OF A PERSON'S CHECKING AND SAVINGS ACCOUNTS. A lender may ask for a VOD when you are applying for a loan to make sure that you actually have the ...

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A DEBT THAT IS NOT BACKED BY COLLATERAL. Unsecured loans, like credit card debt, doctor bills and student loans, do not require you to sign an agreement pledging collateral, such as property, t...

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UNDERWRITING A lender's process to evaluate whether or not to give a borrower a loan. When lenders underwrite a loan, they look at your income, debt and credit history to see if you are a low-ri...

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A TYPE OF LOAN THAT HAS A LOW INTEREST RATE FOR THE FIRST 5 OR 7 YEARS, THEN ADJUSTS TO A HIGHER INTEREST RATE FOR THE REMAINING 25 OR 23 YEARS. Two-step mortgages are ideal for first-time buyer...

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