to foreclose (on) a mortgage
71Creative real estate investing — is a term used to describe non traditional methods of buying and selling real estate. Typically, a buyer will secure financing from a lending institution and pay for the full amount of the purchase price with a combination of the borrowed funds… …
72Due-on-sale clause — A due on sale clause is a clause in a loan or promissory note that stipulates that the full balance may be called due upon sale or transfer of ownership of the property used to secure the note. The lender has the right, but not the obligation, to …
73Mechanic's lien — A mechanic s lien is a security interest in the title to property for the benefit of those who have supplied labor or materials that improve the property. The lien exists for both real property and personal property. In the realm of real property …
74Hard money loan — A hard money loan is a specific type of asset based loan financing in which a borrower receives funds secured by the value of a parcel of real estate. Hard money loans are typically issued at much higher interest rates than conventional… …
75Hope Now Alliance — Not to be confused with the Give Hope Now campaign of the American Red Cross Disaster Services. The Hope Now Alliance is a cooperative effort between the US government, counselors, investors, and lenders to help homeowners who may not be able to… …
76in rem — /in rem/ A technical term used to designate proceedings or actions instituted against the thing, in contradistinction to personal actions, which are said to be in personam. In rem proceedings encompass any action brought against person in which… …
77in rem — /in rem/ A technical term used to designate proceedings or actions instituted against the thing, in contradistinction to personal actions, which are said to be in personam. In rem proceedings encompass any action brought against person in which… …
78Jingle Mail — A situation where a homeowner mails his or her house keys to a mortgage lender due to an inability to meet mortgage payment obligations and a lack of equity in the property. If a homeowner is upside down in a mortgage and feels the entire loan is …
79trust — A legal entity created by a grantor for the benefit of designated beneficiaries under the laws of the state and the valid trust instrument. The trustee holds a fiduciary responsibility to manage the trust s corpus assets and income for the… …
80Allodial title — is a concept in some systems of property law. It describes a situation where real property (land, buildings and fixtures) is owned free and clear of any encumbrances, including liens, mortgages and tax obligations. Allodial title is inalienable,… …
