- Industry: Real estate
- Number of terms: 2794
- Number of blossaries: 0
- Company Profile:
Coldwell Banker is a large real estate franchise founded in 1906 in San Francisco. Coldwell Banker has an international presence, with offices on six continents, 46 countries and territories. There are more than 600 Coldwell Banker offices outside of the United States.
The condition in which a borrower has failed to meet the obligations of a loan or mortgage.
Industry:Real estate
A type of term life insurance often bought by home buyers. The coverage decreases as the mortgage balance declines. If the borrower dies while the policy is in force, the mortgage debt is automatically covered by insurance proceeds.
Industry:Real estate
A payment under which the total balance of principal and an amount for finance charge is put off until the future. This balance is paid by means of installments over a long period.
Industry:Real estate
An amount equal to one percent of the principal loan amount. For example, two points equal 2% of the amount.
Industry:Real estate
A second person sharing obligation on the loan and title on the property.
Industry:Real estate
The state in which a borrow has failed to meet payment obligations on time.
Industry:Real estate
Prepaid interest on a mortgage that is usually paid at the time of closing. Each point is equal to 1% of the total amount of a mortgage (1 point, or 1%, of an $80,000 mortgage would be $800). Most lenders offer mortgages with several combinations of points and interest rates; generally, the lower the interest rate, the more points paid at settlement.
Industry:Real estate
