Equity of redemption (also termed right of redemption or equitable right of redemption) is a defaulting mortgagor’s right to prevent foreclosure proceedings on the property and redeem the mortgaged property by discharging the debt secured by the
The Fair Housing Act and the fair housing amendments refer to Title VIII of the Civil Rights Act of 1968 and later additions. Title VIII as set forth in 1968 prevented discrimination based on race, religion, and national origin in the selling and renting of housing. The Act did not apply to individuals selling or renting three or less houses and apartments.
The fair market value (FMV) is the value of property as determined by the marketplace (or objective purchasers) rather than as determined by a subjective individual. This is what an informed and unpressured buyer would pay to an informed, unpressured seller in an arm's length transaction (the price is based solely on the value of the property, as opposed to if you were selling the prop
A finder’s fee is a commission paid to a person who identified for, brought to the attention of, or facilitated a business transaction between interested parties. In general, a finder’s fee is paid to a person that acted as an intermediary among parties that would not have made the deal or transaction without such intermediation.
Fixed rate mortgages are a common method for purchasing homes with an interest rate that stays the same throughout the loan. These loans often are made for 15, 20, or 30 years, and while the monthly payments never change, the monthly payments go more towards interest at first, increasingly going towards the principal over the life of the loan.
Flipping is a real estate investment practice in which a buyer acquires a property at a relatively low price and then resells it at a higher price within a short time frame.
Hold harmless is defined as a promise in a contract, by one party not to hold the other party responsible if the other party carries out the contract in a way that causes damage to the first party.
