A local tax levied against a property for a specific purpose, such as a sewer or street lights. The agreement between buyer and seller where the buyer takes over the payments on an existing mortgage from the seller. Blanket Mortgage A mortgage covering at least two pieces of real estate as security for the same mortgage. Borrower One who applies for and receives a loan in the form of a mortgage, with the intention of repaying the loan in full. Broker An individual in the business of assisting in arranging funding or negotiating contracts for a client buyer.
Brokers usually charge a fee or receive a commission for their services.
While the payments are initially low, they will increase when the subsidy expires. The amount of cash derived over a certain period of time from an income-producing property. Consumer safeguards which limit the amount monthly payments on an adjustable rate mortgage may change. The document given to qualified veterans which entitles them to VA guaranteed loans for homes, business, and mobile homes. Certificate of Reasonable Value An appraisal issued by the Veterans Administration showing the property's current market value.