Real Estate Term of the Day: Equal Credit Opportunity Act EQUAL CREDIT OPPORTUNITY ACT – a federal law, enacted in 1974, to discourage discrimination by lenders on the basis of sex or marital status. Amended in 1976 to prohibit discrimination on the basis of age, race, color, religion, national origin, or receipt of public assistance … More Real Estate Term of the Day: Equal Credit Opportunity Act
Real Estate Term of the Day: Environmental Protection Agency (EPA) ENVIRONMENTAL PROTECTION AGENCY (aka: EPA) – an agency of the U.S. Government established to enforce federal pollution abatements laws and to implement various pollution prevention programs (Barron’s Dictionary of Real Estate Terms) Some buyers & sellers don’t realize that the EPA does have an impact … More Real Estate Term of the Day: Environmental Protection Agency (EPA)
Real Estate Term of the Day: Energy Efficient ENERGY EFFICIENT – as applied to buildings, generally indicating the existence of extra insulation, weatherproofing, and/or specific features and equipment designed to reduce the cost of energy for heating, cooling and hot water (Barron’s Dictionary of Real Estate Terms) According to the U.S. Department of Energy, Before you … More Real Estate Term of the Day: Energy Efficient
Real Estate Term of the Day: Encumbrance ENCUMBRANCE – any right to or interest in land that affects its value (Barron’s Dictionary of Real Estate Terms) A quick title search can show recorded encumbrances which can include: Outstanding mortgage loans Unpaid taxes HOA lien EASEMENTS DEED RESTRICTIONS – a clause in a deed that limits … More Real Estate Term of the Day: Encumbrance
LESLIE MONACO REAL ESTATE 