FEE SIMPLE
The greatest possible interest a person can have in real estate. |
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FIRST MORTGAGE
The primary lien against a property. |
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FIXED RATE MORTGAGE
Fixed-rate loans have interest rates and payment that remain the same for the life of the loan. |
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FORBEARANCE
The lender's postponement of foreclosure to give the borrower time to catch up on overdue payments. |
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FORECLOSURE
A legal procedure in which real estate is sold by the lender to pay a defaulting borrower's debt . |
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