The age at which an individual is legally
entitled to handle his or her own affairs
Margin
The amount added to the index on an
adjustable-rate mortgage (ARM) that establishes the adjusted interest rate at a
given time
Market value, or Fair market
value
The most likely price that a piece of property
or home can realistically be sold for, and is dependent on the selling price of
similar real estate in the area
Marketable title
A clear, unencumbered title, reasonably
acceptable without the threat of the risk of litigation
Maturity
The date on which the principal balance of a
loan, bond, or other financial commitment is due and payable
Mechanic's lien
A lien created by statute to allow unpaid
contractors, laborers or suppliers who have performed work on or furnished
materials for the construction of a building to recover the value of their
work
Metes and Bounds
Means for describing property by a set of
directions and distances, when there isn't identification based on a surveyed
lot number
Minor
An individual below the age at which he or she
is legally entitled to handle his or her own affairs
Monument of Survey
le indications made on natural or man-made
objects that indicate the boundaries of a survey
Mortgage
A legal document that pledges a property to the
lender as security for the payment of a loan or debt
Mortgage broker
An individual or company that acts as an agent
between borrowers and lenders for the purpose of arranging and negotiating
mortgage contracts; who is paid a fee for such service
Mortgage insurance
A contract that guarantees the lender against
loss caused by a mortgagor's default on a government or conventional mortgage;
such insurance can be issued by a private company or by a government agency,
and covers either only a percentage, or the total, of the mortgage
loan
Mortgagee
The lender in a mortgage
transaction
Mortgagor
The borrower in a mortgage
transaction
Multiple-listing service
(MLS)
An organization of brokers who share their
listing agreements with one another in order to find buyers for their
properties more effectively than they could individually
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Q
Due to low business and living expenses, what areas are considered to be the fastest growing in the country?
A
According to recent studies, the Southern and Western regions of the U.S. are among the nation's strongest economies.
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