Florida Home Loan,

BROKER
An individual who brings buyers and sellers together and assists in negotiating contracts for a client.

CONDOMINIUM OWNERSHIP
An estate in real property consisting of an individual interest in an apartment or commercial unit, and an undivided common interest in the common areas such as the land, parking areas, elevators, stairways, and the like.

QUIET TITLE ACTION
A circuit court action intended to establish or settle the title to a particular property, especially where there is a cloud on the title.

PREPAID INTEREST
The paying of interest before it is due.

MORTGAGEE
The one who receives and holds a mortgage as security for a debt; the lender; a lender or creditor who holds a mortgage as security for payment of an obligation.

PERIODIC TENANCY
A leasehold estate which continues from period to period, such as month to month, year to year. All conditions and terms of the tenancy are carried over from period to period, and continue for an uncertain time until proper notice of termination is given.

NOTE
Legal document obligating a borrower to repay a loan at a stated interest rate during a specified period of time. The agreement is secured by a mortgage or deed of trust or other security instrument.

ORIGINATION FEE
The finance fee charged by a lender for placing a mortgage, which covers initial costs such as preparation of documents and credit, inspection and appraisal fees.

ADHESION CONTRACT
A contract which is very one-sided and favors the party who drafted the document.

COURTESY TO BROKERS
The practice of sharing commissions with cooperating brokers.

ATTORNEY-IN-FACT
One who is authorized by another to act in his place under a power of attorney.

INTEREST RATE
The annual rate of interest on the loan, expressed as a percentage of 100.