A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

U

Underwriting	The process of analyzing a borrower's capability to honor repayment of a loan (evaluating his or her credit, assets, employment) along with the value of the property being purchased, to help minimize the risk involved for the party lending the purchase money
Unilateral contract	A one-sided contract in which only one party is legally under obligation by the terms of the contract; one party promises an action to the second party, who is not legally required to respond, but if the second part does comply, then the first party is obligated to honor the promise made
Unsecured loan	A loan that is not guaranteed by collateral
Usury	The act of charging more than the maximum rate of interest permitted by law

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

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Real Estate Tips

Foreclosures >1. What Is a Foreclosure?

A foreclosure is a legal process through which a mortgagor loses his or her equitable right to redeem a mortgaged estate; in other words, the lender completely repossesses the home from the borrower (homeowner.) The lender goes through the legal motions to sell the property, terminate all the homeowner’s rights in that property, and remove the homeowner.

What are the effects?

• The most stressful and pressing effect that foreclosure has is that the borrower loses his or her place to live.
• Foreclosure negatively affects the borrower’s credit rating. It stays on a credit report for seven years and drops a credit score 250 points.
• A borrower who’s been foreclosed on may have trouble finding and keeping jobs since good credit may be required by employers to be hired.
• A foreclosed home can bring down the value of surrounding homes.

	See All Tips In The "Foreclosures" Category >
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Real Estate Trivia

Q	Who is "Fannie Mae" and why is she a big name in real estate?
A	"Fannie Mae" is the real estate industry nickname for FNMA, or Federal National Mortgage Association, the stockholder-owned corporation that purchases mortgages from mortgage lenders.
See More Real Estate Trivia >

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Alicia and Chris Demarest Lindsey & Associates 1200 E. Joyce Fayetteville AR, 72703 Alicia: 479-236-0396 Chris: 479-236-0395 Fax: 479-527-8719 Text: 479-236-0395 Email: Chris@ChrisDemarest.com Email: Alicia@AliciaDemarest.com Chris & Alicia Demarest are top licensed Realtors in Northwest Arkansas. Their years of experience in customer service and construction have helped them develop a UNIQUE system for Real Estate service. If you are ready for a different approach to your Real Estate Needs contact them today. www.aliciademarest.com is brought to you by Alicia and Chris Demarest, real estate for Springdale, Rogers and Bentonville, Arkansas Read Chris and Alicia Demarest's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

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