Owner Financing
Owner Financing – David Reecher The seller provides financing so that the buyer does not have to go through a bank or traditional sources to obtain funding to purchase the property. The seller ... Read More
Origination Fee
Origination Fee – David Reecher The fee charged by most lenders to originate a loan, typically one percent of the loan amount.... Read More
Open Listing
Open Listing -David Reecher A listing under which the principal (owner) reserves the right to list his property with other brokers, yet grants the real estate agent the right to advertise and sel... Read More
Open End Loan
Open End Loan – David Reecher A mortgage loan that is expandable by increments up to a maximum dollar amount, the full loan being secured by the same original mortgage.... Read More
Notice of Default
Notice of Default -David Reecher A formal written notice to a borrower that a default has occurred (i.e. payment has not been received) and that legal action may be taken.... Read More