|Words beginning with..|
|A||B||C||D||E||F||G||H||I||J||K , L||M||N||O||P||Q||R||S||T||U||V||W – Z|
A 2-level residential unit in a building. The adjoining floors of the units are connected by an internal staircase in the house.
The age at which a person may handle his own affairs.
The amount a lender adds to the index on an adjustable rate mortgage to establish the adjusted interest rate.
Title without defects or claims so as to be readily accepted without fair or reasonable doubt.
compare INSURABLE TITLE
The highest price that a buyer would pay and the lowest price a seller would accept on a property. Market value may be different from the price a property could actually be sold for at a given time.
The right of an unpaid contractor, laborer or supplier to file a lien against property to recover the value of his work
For detached, semi-detached and terrace houses, the median price is computed based on their land area. For strata sub-divided properties, such as apartments, condominiums, cluster housing and townhouses, the median price is computed based on their strata floor area.
METES AND BOUNDS
A means of describing land by directions and distances rather than reference to a lot number. Generally used when land has not been subdivided into lots.
Also known as monthly reducing, the interest will be calculated on the outstanding principal at the start of each month.
A voluntary lien filed against property to secure a debt, usually a loan. To foreclose, the lender must often institute a court action and the borrower may have the right to reclaim the property after foreclosure. compare DEED OF TRUST
Money paid to insure the mortgage when the down payment is less than 20 percent.
see private mortgage insurance, FHA mortgage insurance
see The lender
MORTGAGE REDUCING INSURANCE
A type of insurance purchased for the sole purpose of protecting the outstanding loan. The insurance cover is equivalent with the outstanding loan amount.
The lender in a mortgage agreement.
The borrower or home owner.
[Back to Top]
*Please note that information provided is as it is basis, whilst every effort has been made to provide up-to-date information. The author is not responsible for inaccuracies or whatsoever as a result from using this information.
|About Us | Rental | Sale | Mortgage | Tax | Utility | Useful Info | News | RSS | Contact | Site Map | Disclaimer||© LushDreamHome 2013. All rights reserved|