Home Equity Information Loan
Home Equity Information Loan
Home Equity Information Loan

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Real Estate Terms of the Day for Home Equity Information Loan



WAREHOUSING
A term used in financing to describe the process which loan correspondents employ, assembling into one package a number of mortgage loans which the correspondent has originated and selling them in the secondary mortgage market.

DURESS
Unlawful constraint or action exercised upon a person whereby he is forced to perform some act against his will. A contract entered into under duress is void.

FREDDIE MAC
A common nickname for the Federal Home Loan Mortgage Corporation.

NEGOTIABLE INSTRUMENT
Any written instrument which may be transferred by endorsement or delivery so as to vest legal title in the transferee.

COOPERATIVE OWNERSHIP
Cooperative ownership of an apartment unit means that the apartment owner has purchased shares in a corporation which holds title to the entire apartment building.

TAX SALE
Public sale of property by a government authority as a result of non-payment of taxes.

INTESTATE
To die without a valid will.

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