Transfer of an assumable mortgage from the old owner to the new owner. ...

The real estate world features many tricky terms and concepts. One that often sneaks up on even the most experienced buyers and sellers is the "red herring." What is the meaning of red herring, and why should you care? Let's dive into the details! What does red herring mean? A "red herring" comes ...

Same as term Bridge Loan: A short-term loan, usually from a bank, that 'bridges' the period between the closing of a home purchase and the closing of a home sale. To qualify for a bridge loan, the borrower must have a contract to sell the existing house. This is the same as a 'swing loan.'...

Same as term Flat Rate: rate not subsequently adjusted. The rate stays in effect regardless of an insured's subsequent loss record....