Negative Pledge
Negative Pledge – David Reecher A negative pledge is when the condominium places restrictions on the unit deed and trust agreement restricting the right of an owner to finance a condominium unit... Read More
Negative Amortization
Negative Amortization –David Reecher This occurs when a loan permits the borrower to make a payment that is less than the full amount required to cover the interest charge on the open balance an... Read More
Mortgage Note
Mortgage Note – David Reecher A mortgage note is a document signed at closing which states the borrower’s promise to re-pay a sum of money. The note states an interest rate and a fix... Read More
Mortgage Insurance (or Private Mortgage Insurance / PMI)
Mortgage Insurance (or Private Mortgage Insurance / PMI) – David Reecher Mortgage insurance is insurance that protects the lender in case the home buyer does not make their mortgage payments.&nb... Read More
Metes and Bounds
Metes and Bounds – David Reecher Metes and bounds is a system of land description with distances and directions.... Read More
Mechanic’s Lien
Mechanic’s Lien – David Reecher A mechanic’s lien is a statutory lien available to anyone supplying labor or material to the construction of an improvement of land that hss not been ... Read More
Market Value
Market Value – David Reecher The market value of a property is an estimation of the price for a property in relation to the current real estate market.... Read More