Deferred Interest Mortgages
Definition of "Deferred interest mortgages"
Financing technique aimed at those people who only plan to live in a house for a short time. Under this mortgage, a lower interest rate and, thus, a lower monthly mortgage payment are charged. Upon the selling of the house, the lender receives the deferred interest plus a fee for postponing the interest that would normally have been paid each month.
Popular Real Estate Terms
The definition of dereliction is the intentional property abandonment or desertion with no hope of returning or recovery of a property. Dereliction is the act of abandonment, neglect of ...
To confirm, ratify, verify, and accept a transaction that can be canceled. ...
Real estate business owned by one person having all the rights and obligations. ...
A loan whereby the lender, in the event of a default, has recourse beyond the collateral pledged to initially secure it. For example, John gave Brian a $50,000 recourse loan using Brian's ...
A relatively unknown term, laches or the” doctrine of laches,” means failure to assert one’s rights or a claim in a given matter in time. Failing to take action on a ...
Fence constructed at the property line or other division point separating a subdivision or a home site. It marks the point of separation between two separate properties. ...
Modification in the amount of money involved for some justifiable reason. ...
Rezoning of land from a higher density use to a lower density use. ...
The definition of property acquisition cost in real estate is the total recorded cost of a piece of real estate after reductions in price, incentives, closing costs and any other ...
Have a question or comment?
We're here to help.