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NATIONAL ASSOCIATION OF REALTORS®
(NAR) |
A real estate trade organization that sets the
standards for integrity and honesty within the real estate profession
nationwide |
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Negative amortization |
A gradual increase in the balance of a loan or
mortgage which occurs because the monthly payments made are too small to cover
the entire principal and interest charges; this shortfall amount is added to
the remaining balance, resulting in negative amortization |
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Net listing |
The advertisement of the price of property for
sale in terms of the net price the seller will receive, once the property is
sold, a type of listing which is illegal in many states |
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Net worth |
The total value of all of an individual's
assets, minus all liabilities or debts |
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No cash-out refinance |
A transaction for refinancing a mortgage in
which the new mortgage amount is limited to the sum total of the remaining
balance of the first mortgage, points, closing costs, whatever is required to
satisfy any liens that are more than one year old and other funds for the
borrower's use (as long as the amount is one percent or less of the principal
amount of the new mortgage) |
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Notary |
An individual authorized by law to certify
documents and signatures |
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Note |
A legal document that obligates a borrower to
repay a loan or owed sum of money at a stated interest rate over a designated
period of time |
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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 know and I will be happy to assist you. 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.  Didn't Find the Real Estate Term you were lookin for? Let me know! I'm happy to answer ANY questions. Fill in the form below and pose your question, I will be happy to assist you and if it involves an area, town, or subidivision, please make reference to that area in the "Additional Info" box, no matter where it is in: East Baton Rouge Parish, including Baton Rouge, Zachary, Baker, Greenwell Springs, and Central West Baton Rouge Parish, including Brusly, Port Allen, Erwinville and Addis Ascension Parish, including Prairieville, Dutchtown, or Geismer Livingston Parish, including Denham Springs Iberville Parish, including Plaquemine Pointe Coupee, including New Roads and False River East and West Feleciana, including St. Francisville and Clinton There's no obligation, and I promise to get back to you quickly... |
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- NUMBER1EXPERT™ 
