A real estate trade organization that sets the
standards for integrity and honesty within the real estate profession
nationwide
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
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
Net worth
The total value of all of an individual's
assets, minus all liabilities or debts
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)
Notary
An individual authorized by law to certify
documents and signatures
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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Q
What is the maximum interest you can deduct on your federal tax return to purchase or improve a first or second home?
A
One of the greatest benefits of home ownership is the federal tax deduction for interest up to, but not exceeding, $1million.
Kathy Courtney Realty Group The Kathy Courtney Realty Group at Keller Williams 12008 South Shore Boulevard, Suite 201 Wellington, FL. 33414 Main Office: 561-798-1411 Toll Free: 866-798-4068 Fax: 561-472-1233 Email: kathycourtney@NUMBER1EXPERT.com
The Kathy Courtney Realty Group. We are building strong, life long relationships one client at a time. You can count on The Kathy Courtney Realty Group. Please visit us at our web site www.WestPalmRealEstate.com. Or call us at 561-798-1411.
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