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ZERO DOWN |
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NO Closing Costs |
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NAR. National Association of REALTORS®. A trade organization for real estate agents andbrokers who become members by agreeing to abide by the organization's code of ethics. Members may call themselves REALTORS®. Negative amortization. Payment terms under which the borrower’s monthly payments do not cover the interest due; as a result, the loan balance increases. Negative amortization. Payment terms under which the borrower’s monthly payments do not cover the interest due and, as a result, the loan balance increases. Negative equity. When the amount of principal owed on a mortgage is greater than the fair market value. Non-assumption clause. In a mortgage contract, a statement that prohibits a new buyer from assuming a mortgage loan without the approval of the lender. Notice of default. A formal written notice to a borrower that a default has occurred and that legal action may be taken. |
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[Home] [1. Contact a REALTOR] [2. Contact Loan Officer] [3. Find Your Home] [Do I Qualify?] [Reports] [Home Search] [REALTORS] [Lenders] [Calculators] [Glossary] [Contact Us] |
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A service of Jerry Johnson, RE/MAX Results. |
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Copyright© 2011 by JA Consulting, Inc. |
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