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Tandem plan
Tandem plan A mortgage subsidy program offered from time to time by the United States Congress. The Government National Mortgage Association (GNMA) purchases certain mortgages at below market interest rates, granting borrowers low-interest loans. GMNA sells the loans on the secondary market at a discount, the discount being the amount of the subsidy.
RELATED TERMS--------------------------------------
Mortgage
A legal document pledging property as security for the payment of a loan.
Market
A place where goods can be bought and sold and a price established.
Interest
Money paid to a lender as compensation for money that is borrowed.
Discount
To sell at a reduced value; the difference between face value and cash value.
SIMILAR TERMS--------------------------------------
PREVIOUS AND NEXT TERMS--------------------------------------
Table funding
Simultaneous conveyance of purchase price and title as well as all loan papers at a closing.
Tacking
Adding or combining successive periods of continuous occupation of real property by adverse possessors. This concept enables someone who has not been in possession for the entire statutory period to establish a claim of adverse possession.
Take-out financing
Long-term permanent financing. In the usual large construction project, the developer obtains two types of financing. The first is the interim loan, a short-term loan to cover construction costs.
Taking
A common synonym for condemnation, or any interference with private property rights, but it is not essential that there be physical seizure or appropriation.
Talking sign
A radio transmitter with a range of up to 250 feet that broadcasts a description of a property to prospects listening to a radio tuned to the transmitter's frequency.
Tandem plan
Tap fees
Most companies charge a tap fee for hooking up utilities.
Tax
As applied to real estate, an enforced charge imposed on persons, property or income, to be used to support the State.
Tax base
The assessed valuation of all real property that lies within a taxing authority's jurisdiction.
Tax bill
A property owner's tax bill is computed by applying the tax rate to the assessed valuation of the property.
Tax credit
An amount by which tax owed is reduced directly.
This dictionary contains 6433 terms. |
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