Negative Amortization
Negative Amortization – David Reecher Negative amortization can occur when the monthly mortgage payment amount is not adequate for both the interest and principal of the loan, resulting in a gra... Read More
Needs-Based Pricing
Needs-Based Pricing – David Reecher Needs-based pricing describes a seller’s asking price that is based on getting required funds to cover a mortgage, pay off renovation costs or purchase ... Read More
Mortgage Lender
Mortgage Lender – David Reecher The mortgage lender is the bank or financial entity that loans money to the person buying the home. Many buyers rely on mortgage lenders for the cash that allows ... Read More
Metes and Bounds
Metes and Bounds – David Reecher Metes and bounds is a slang term used for “metes and bounds survey.” These surveys are completed by a professional and provide a legal definition of ... Read More
Merged Credit Report
Merged Credit Report – David Reecher A merged credit report consists of data from all three credit reporting agencies that collect consumer credit information: Equifax, Transunion and Experian. ... Read More
Median Price
Median Price – David Reecher The median price refers to when half the properties in the statistical set are priced above and half are priced below the price of a specific property. It’s a ... Read More
Mechanical Systems
Mechanical Systems – David Reecher Mechanical systems are the various major systems throughout a home, such as the plumbing, electrical and heating/cooling systems. These systems can be costly r... Read More