Tag: homes
Foreclosure
DefinitionForeclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making...
Underwater Mortgage
Home Ownership by Country Underwater Mortgage Underwater mortgage is a mortgage loan whose balance is higher than the fair market value of the home....
Sale
What is a 'Sale' A sale is a transaction between two parties where the buyer receives goods (tangible or intangible), services and/or...
Jingle Mail
What is 'Jingle Mail' A situation where a homeowner mails his or her house keys to a mortgage lender due to an...
Land Contract
What is a land contract and how does it works?
A land contract is a contract between the buyer and seller of a piece of...
Vacation Home
What is 'Vacation Home' A dwelling other than the owner's primary residence that is used for recreational purposes, like vacations (hence the...