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NATIONAL ASSOCIATION OF REALTORS®
(NAR) |
A real estate trade organization that sets the
standards for integrity and honesty within the real estate profession
nationwide |
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Negative amortization |
A gradual increase in the balance of a loan or
mortgage which occurs because the monthly payments made are too small to cover
the entire principal and interest charges; this shortfall amount is added to
the remaining balance, resulting in negative amortization |
|
Net listing |
The advertisement of the price of property for
sale in terms of the net price the seller will receive, once the property is
sold, a type of listing which is illegal in many states |
|
Net worth |
The total value of all of an individual's
assets, minus all liabilities or debts |
|
No cash-out refinance |
A transaction for refinancing a mortgage in
which the new mortgage amount is limited to the sum total of the remaining
balance of the first mortgage, points, closing costs, whatever is required to
satisfy any liens that are more than one year old and other funds for the
borrower's use (as long as the amount is one percent or less of the principal
amount of the new mortgage) |
|
Notary |
An individual authorized by law to certify
documents and signatures |
|
Note |
A legal document that obligates a borrower to
repay a loan or owed sum of money at a stated interest rate over a designated
period of time |
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Did I Miss the Word YOU Are Looking For? Is there a real estate word that I failed to explain here in my dictionary for homebuyers and sellers? Let me be your personal real estate dictionary! I'll send a brief explanation of any word or term that you encounter when buying and selling property. Do you have a suggestion of a real estate word that should be included? Let me know! I always appreciate feedback. Do any of these definitions raise questions for you? Didn't find the word you're looking for? Let me know! I'm happy to answer ANY questions. It's my job! There's no obligation, and I promise to get back to you quickly...
| Q |
What might happen to the Empire State Building in extreme weather?
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| A |
The Empire State Building can sway several feet to either side when buffeted by a severe windstorm or rainstorm. |
 See More Real Estate Trivia > |
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Rhonda Rios
Keller Williams
229 Route 32, Suite #1
Central Valley, NY. 10917
Phone: 845-863-4488
Email: rhondarios@NUMBER1EXPERT.com
Rhonda Rios is a full-time, licensed real estate Broker Associate with Keller Williams Realty, Central Valley, N.Y., serving Orange, Rockland, Sullivan, Ulster & Duchess Counties. Her real estate experience dates back to her father being a local builder and her mother a broker. Knowing and living the business, Rhonda decided to take the same career path. Rhonda's most recent awards include Rising Star Award for Listing & Sold Units, Keller Williams Culture Award, Keller Williams Cares Award, Keller Williams "Cappers Club and Agent of the Month.Rhonda is also E-Agent certified, Certified Buyer's Representative and Graduate from the Realtor's Institute. Rhonda's commitment, diligence, enthusiasm and perseverance are key to helping their clients reach their goals.      
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