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Foreclosure
Foreclosure A legal process in which mortgaged property is sold to pay the loan of the defaulting borrower.
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Property
The rights of ownership. The right to use, possess, enjoy, and dispose of a thing in every legal way and to exclude everyone else from interfering with these rights.
Loan
A sum of borrowed money (principal) that is generally repaid with interest.
Borrower
A person who has been approved to receive a loan and is then obligated to repay it and any additional fees according to the loan terms.
SIMILAR TERMS--------------------------------------
Foreign currency mortgage
A mortgage is taken out in a foreign currency. These mortgages are taken out by those who want to avoid having to exchange currency each month or by those with high-risk attitudes who believe they can save by taking out a mortgage in a foreign currency.
Foreign Investment in Real Property Tax Act (FIRPTA)
Enacted by the United States Congress in 1985, the act requires buyers to withhold estimated taxes equal to 10% of the sale price of a property sold or exchanged by a foreign person.
PREVIOUS AND NEXT TERMS--------------------------------------
Follow-on offering
A stock offering made by an existing public company
Footings
Concrete foundations that support a structure.
For sale by owner (FSBO)
Some owners choose to sell their own property without the aid of a real estate broker. "For Sale By Owner" properties are often a source of listings when the owner is unsuccessful finding qualified buyers.
Forbearance
The act of refraining from taking legal action despite the fact that payment of a promissory note in a mortgage or deed of trust is in arrears.
Force majeure
A force that cannot be controlled by the parties to a contract and prevents them from complying with the provisions of the contract.
Foreclosure
Foreign currency mortgage
A mortgage is taken out in a foreign currency. These mortgages are taken out by those who want to avoid having to exchange currency each month or by those with high-risk attitudes who believe they can save by taking out a mortgage in a foreign currency.
Foreign Investment in Real Property Tax Act (FIRPTA)
Enacted by the United States Congress in 1985, the act requires buyers to withhold estimated taxes equal to 10% of the sale price of a property sold or exchanged by a foreign person.
Forfeiture
Loss of property because of violation of law or contract.
Form appraisal report
Any of the relatively brief standard forms prepared by agencies such as the Federal Home Loan Mortgage Corporation and Federal National Mortgage Association and others for routine property appraisals.
Formaldehyde
A colorless, pungent, and irritating gas, used chiefly as a disinfectant and preservative and in synthesizing other compounds like resins.
This dictionary contains 6433 terms. |
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