Tagged: rental property management

Cross-collateralization is the act of using an asset currently used as collateral for an initial loan as collateral for a second loan. If the debtor was unable to make either loan’s scheduled repayments on time, the affected lenders can eventually force the liquidation of the asset and use the proceeds for repayment. BREAKING DOWN Cross Collateralization Taking out […] The post Cross Collateralization appeared first on RentFollow Real Estate Glossary. […]

An alternative mortgage is any mortgage that is not a traditional, fixed-rate mortgage. The alternative mortgage might be an adjustable-rate mortgage or an interest-only mortgage. Some people even classify short-term and longer-term mortgages as an alternative. These mortgages are a relatively new phenomenon, as many banks have come up with innovative loan products to attract […] The post Alternative Mortgage appeared first on RentFollow Real Estate Glossary. […]

Home inspections are required once a potential buyer makes an offer. Typically, they cost a few hundred dollars. The purpose is to check that the house’s plumbing, foundation, appliances, and other features are up to code. Issues that may turn up during an inspection may factor into the negotiation on a final price. Failing to […] The post Inspection appeared first on RentFollow Real Estate Glossary. […]

This is how much a home is worth according to a public tax assessor who makes that determination in order to figure out how much city or state tax the owner owes. The post Assessed Value appeared first on RentFollow Real Estate Glossary. […]

A Yield Spread Premium (YSP) is the compensation a lender pays a mortgage broker to sell a loan with a higher interest rate. Unless a borrower pays an origination fee for a mortgage loan, they most likely will pay a YSP (an interest rate above the market rate). The YSP is listed on the Loan Estimate and Closing […] The post Yield Spread Premium (YSP) appeared first on RentFollow Real Estate Glossary. […]