Truth-In-Lending Act

Truth-In-Lending Act – David Reecher This act is a federal law that was enacted in 1968. Its aim was to give more power to borrowers, home buyers and others seeking loans or credit. For those lo... Read More

Trustee

Trustee – David Reecher A trustee is a person who legally holds a piece of property for another person. In real estate terms, the bank or financial company that issues the loan for the mortgage ... Read More

Trust Account

Trust Account – David Reecher A trust account is an account held by attorneys, real estate brokers, and other professionals to facilitate the transfer of funds from one party to another. In a re... Read More

Triple Net (NNN)

Triple Net (NNN) – David Reecher A triple net, also known as a NNN lease, refers to a lease where the tenant pays all expenses for the property. The “NNN” literally stands for Net-Ne... Read More

Treasury Index

Treasury Index – David Reecher The Treasury index is a metric most often used to determine the rate on an adjustable-rate mortgage. Because adjustable-rate mortgages fluctuate from year to year,... Read More

Transfer Tax

Transfer Tax – David Reecher Transfer tax is assessed by local or state governments on transfers of real property. Typically, when you buy or sell property, one of the parties (usually the selle... Read More

Trans-Union

Trans-Union – David Reecher Trans-Union is the country’s third largest credit reporting bureau and offers a range of information to banks, creditors, lenders and borrowers. Trans-Union was... Read More

Trading Up

Trading Up – David Reecher A buyer is said to be trading up when he or she purchases a home that is more expensive than the home he or she currently owns. Buyers may be trading up for several re... Read More

Trading Down

Trading Down – David Reecher Whenever buyers purchase a home that is less expensive than the one they currently reside in, this is referred to as trading down. This is sometimes done when homeow... Read More