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Glossary of Real Estate and Legal
Terms and Definitions
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National Association of Realtors
(NAR) |
A real estate trade organization that sets the
standards for integrity and honesty within the real estate profession
nationwide |
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Negative amortization |
A gradual increase in the balance of a loan or
mortgage which occurs because the monthly payments made are too small to cover
the entire principal and interest charges; this shortfall amount is added to
the remaining balance, resulting in negative amortization |
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Net listing |
The advertisement of the price of property for
sale in terms of the net price the seller will receive, once the property is
sold, a type of listing which is illegal in many states |
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Net worth |
The total value of all of an individual's
assets, minus all liabilities or debts |
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No cash-out refinance |
A transaction for refinancing a mortgage in
which the new mortgage amount is limited to the sum total of the remaining
balance of the first mortgage, points, closing costs, whatever is required to
satisfy any liens that are more than one year old and other funds for the
borrower's use (as long as the amount is one percent or less of the principal
amount of the new mortgage) |
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Notary |
An individual authorized by law to certify
documents and signatures |
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Note |
A legal document that obligates a borrower to
repay a loan or owed sum of money at a stated interest rate over a designated
period of time |
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Can't find the word or term you are looking for?
No problem.
Just let
me know what it is you are looking for and I will be happy to
research the information and get back to you with it. I am
always looking for new information to add to the dictionary so any
request about a word or term is always welcome.
Almost ready to
relocate to Clark County, Washington? Just considering the
possibility of living here? No matter where you are in the
relocation process I am here to help you and provide any
information you may need.
Bookmark
www.VancouverWaRelo.com
and keep this "one-stop" site for all,
your relocation and home buying needs in Clark County and Vancouver
Washington, at your fingertips. Don't miss the
Property Listings that are updated and changed daily.
Need more information
about Vancouver and Clark County? I am the expert on
the area and
have listed and addressed many subjects, here on the site, that are going to be important to you during
your relocation (I also offer a free
relocation packet
that will be
sent to you upon request.). But, no matter how much information is here
for you there are times when you want to talk to an experienced Realtor
who is an expert on relocation and the Vancouver/Clark County area.
Don't hesitate to contact me with all your questions and I will make
sure they are answered promptly and with the utmost confidentiality.
You can depend on me to make
sure that
all your relocation goals will be met!
 
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