Real Estate Term of the Day: Kickback KICKBACK – a fee or rebate to an agent or other participant in a transaction as an incentive to refer customers to a particular vendor. The referring party provides no service to the customer other than the referral. Kickbacks to brokerage agents from mortgage lenders are prohibited by the Real Estate … More Real Estate Term of the Day: Kickback
Real Estate Term of the Day: Jumbo Mortgage JUMBO MORTGAGE – a loan for an amount exceeding the statutory limit placed on the size of loans that Freddie Mac and Fannie Mae can purchase. Such loans must be maintained in the Lender’s portfolio or sold to private investors. These loans are typically required for purchase of luxury … More Real Estate Term of the Day: Jumbo Mortgage
Real Estate Term of the Day: Joint Tenancy, Ownership Form, Right of Survivorship, Severalty & Tenancy in Common JOINT TENANCY – ownership of real estate by 2 or more persons, each of whom has an undivided interest with the Right of Survivorship. Typically used by related persons. (Barron’s Dictionary of Real Estate Terms) OWNERSHIP FORM – … More Real Estate Term of the Day: Joint Tenancy, Ownership Form, Right of Survivorship, Severalty & Tenancy in Common
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LESLIE MONACO REAL ESTATE 