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Underwriting |
The process of analyzing a borrower's capability
to honor repayment of a loan (evaluating his or her credit, assets, employment)
along with the value of the property being purchased, to help minimize the risk
involved for the party lending the purchase money |
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Unilateral contract |
A one-sided contract in which only one party is
legally under obligation by the terms of the contract; one party promises an
action to the second party, who is not legally required to respond, but if the
second part does comply, then the first party is obligated to honor the promise
made |
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Unsecured loan |
A loan that is not guaranteed by
collateral |
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Usury |
The act of charging more than the maximum rate
of interest permitted by law |
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Did I Miss the Word YOU Are Looking For? Is there a real estate word that I failed to explain here in my dictionary for homebuyers and sellers? Let me be your personal real estate dictionary! I'll send a brief explanation of any word or term that you encounter when buying and selling property. Do you have a suggestion of a real estate word that should be included? Let me know! I always appreciate feedback. Do any of these definitions raise questions for you? Didn't find the word you're looking for? Let me know! I'm happy to answer ANY questions. It's my job! There's no obligation, and I promise to get back to you quickly... |
"Lela, I can't thank you enough for
going out of your way and helping me achieve a dream of being a home owner. You
are indeed an angel." - Sherry
"Lela came to the forefront with her negotiating skills and
professionalism and created a contract satisfactory to both parties... from the
beginning to the end, Lela was always there with wisdom, confidence,
encouragement, an infectious smile to help us." -
James
"I'm very happy to say we found the
home of our dreams. I personally believe we owe this all to one
individual...Lela Ashkarian" - Jim &
Oleta
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