|
| Loews Home Improvement Center |
|
Menu
|
Free Classifieds and Advertising for Individuals and Businesses at www.KeepSane.com
APPLICATION FEE Fee charged by a lender to cover the initial costs of processing a loan application. The fee may include the cost of obtaining a property appraisal, a credit report, and a lock-in fee or other closing costs incurred during the process or the fee may be in addition to these charges. LOAN APPLICATION FEE Fee charged by a lender to cover the initial costs of processing a loan application. The fee may include the cost of obtaining a property appraisal, a credit report, and a lock-in fee or other closing costs incurred during the process or the fee may be in addition to these charges. COLOR OF TITLE A condition which has the appearance of good title, but which in fact is not valid title, as where title is founded on some written document which on its face appears valid and effective, but which is actually invalid. FLOOD INSURANCE Insurance that compensates for physical damage to a property by flood. Typically not covered under standard hazard insurance. LOAN-TO-VALUE RATIO (LTV) The percentage of the loan amount to the appraised value (or the sales price, whichever is less) of the property. JUNIOR MORTGAGE A mortgage subordinate to the claim of a prior lien or mortgage. In the case of a foreclosure, a senior mortgage or lien will be paid first. POSSESSION The act of either actually or constructively possessing or occupying property. |
Copyright © 2004-2005 | www.WeWillBuyYourHouseFast.com | Privacy Policy |