The final lump sum payment that is made at the maturity date of a balloon mortgage.
Income before taxes are deducted.
An improvement that increases property value as distinguished from repairs or replacements that simply maintain value.
bill of sale
A written document that transfers title to personal property.
A form of second trust that is collateralized by the borrower's present home (which is usually for sale) in a manner that allows the proceeds to be used for closing on a new house before the present home is sold. Also known as "swing loan."
A person who, for a commission or a fee, brings parties together and assists in negotiating contracts between them.
A detailed plan of income and expenses expected over a certain period of time. A budget can provide guidelines for managing future investments and expenses.
Local regulations that control design, construction, and materials used in construction. Building codes are based on safety and health standards.
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