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Real Estate Investment
Free Classifieds and Advertising for Individuals and Businesses at www.KeepSane.com
If you would like to invest in real estate you have come to the right place. Our company, Easy Property Solutions LLC buys foreclosure homes in Hampton Roads, Virginia at deep discounts. We buy properties at 50-75% of their market value. If you have money to invest on a short to mid-term basis, you can and will make double digit gains on your investment. We are looking for investors to put up cash for the homes we purchase. We create a note for the money, and secure it buy a Deed of Trust (lien) on the property. We hold properties from anywhere from 1-6 months. Please call Shaun O'Toole at 757-724-1428 for more info. Real Estate Solutions for Real Estate Investment and beyond!
Real Estate Investment
Real Estate Terms of the Day for Real Estate Investment
TITLE COMPANY
A company that insures title to property.
MORTGAGE BANKER
A corporation or firm which normally provides its own funds for mortgage financing.
REBATE
A reduction or kickback of a stipulated charge.
ASSESSMENT
A specific levy for a definite purpose, such as adding curbs or sewers in a neighborhood. Individual condominium owners are subject to special assessments benefiting the project as a whole and not funded through regular maintenance charges.
VENDEE
The purchaser of realty; the buyer. The buyer under an agreement of sale.
CONFORMING LOAN
A mortgage loan which meets all requirements to be eligible for purchase by federal agencies such as FNMA and FHLMC. The maximum conforming loan amount is $240,000 for a one-unit property.
GOVERNMENT SURVEY
A system of land description in which large blocks of land are divided into tracts bounded by imaginary lines conforming to the true meridian.
FRONTAGE
The length of a property abutting a street or body of water; that is, the number of feet that "front" the street or water.
LIBOR (LONDON INTERBANK OFFERED RATE)
The interest rate charged among banks in the foreign market for short-term loans to one another. A common index for ARM loans.
COST OF FUNDS INDEX (COFI)
An index of the weighted-average interest rate paid by savings institutions for sources of funds, usually by members of the 11th Federal Home Loan Bank District.
RESTRICTIONS
Limitations on the use of property. Private restrictions are created by means of restrictive covenants written into real property instruments, such as deeds and leases.
STRAIGHT NOTE
A promissory note evidencing a loan in which "interest only" payments are made periodically during the term of the note, with the principal payment due in one lump sum upon maturity.
DUPLEX
A structure that provides housing accommodations for two families by having separate entrances, kitchens, bedrooms, lanais, living rooms and bathrooms. A two-family dwelling.
APR
See Annual Percentage Rate.
CAPITAL IMPROVEMENT
Any structure which is erected as a permanent improvement to real property; any improvement which is made to extend the useful life of a property, or to add to the value of the property.
APPRECIATION
An increase in the worth or value of property due to economic or related causes, which may prove to be either temporary or permanent.
FRAUD
Any form of deceit, trickery, breach of confidence or misrepresentation by which one party attempts to gain some unfair or dishonest advantage over another.
LEASE
A lease is both a contract between lessor (landlord)and lessee (tenant) and a conveyance or demise of the premises by the lessor to the lessee. A lease is a contract in that item bodies the agreement between the parties.
MORTGAGE BANKER
A corporation or firm which normally provides its own funds for mortgage financing.
AFFIDAVIT
A sworn statement reduced to writing and made under oath before a Notary Public or other official authorized by law to administer an oath.
TITLE COMPANY
A company that insures title to property.
SPECIAL ASSESSMENT
A tax or levy customarily imposed against only those specific parcels of realty which will benefit from a proposed public improvement, as opposed to a general tax on the entire community.
JOINT LIABILITY
Liability shared among two or more people, each of whom is liable for the full debt.
WRAP-AROUND MORTGAGE
A method of refinancing in which the new mortgage is placed in a secondary or subordinate position. In essence, it is an additional mortgage in which another lender refinances a borrower by lending an amount over the existing first mortgage amount, without cashing out or distributing the existence of the first mortgage.
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