Category: B

BRIDGE LOAN RETOTD Episode 00115

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BRIDGE LOAN A type of short-term, interim financing used to bridge the time gap between the end of one loan and the beginning of another, as between a construction loan and permanent financing. Not used much anymore, bridge loans are…

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BALLOON PAYMENT RETOTD Episode 00114

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BALLOON PAYMENT The final payment of the balance due on a partially amortized loan. A loan with monthly payments too low to pay off the balance in the specified term. The balance must be paid in full when the loan…

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BUILT-INS RETOTD Episode 00108

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BUILT-INS Specific items of personal property which are installed in a real estate improvement such that they become part of the building. Built-in microwave ovens and dishwashers are common examples.

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BUNDLE OF RIGHTS RETOTD Episode 00051

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BUNDLE OF RIGHTS Ownership in real property implies a group of rights, such as the right of occupancy, use and enjoyment, the right to sell in whole or in part, the right to control the use, the right to bequeath,…

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BUILDING CODE RETOTD: Episode 00046

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BUILDING CODE The various laws set forth by the ruling municipality as to the end use of a certain piece of property. They dictate the criteria for design, materials and types of improvements allowed. Regulations that ensure the safety and…

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BUY DOWN RETOTD: Episode 00010

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BUY DOWN Extra money paid in a lump sum to reduce the interest rate of a fixed rate mortgage for a period of time. The extra money may be paid by the borrower, in order to have a lower payment…

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