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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 We Miss the Word YOU Are Looking For? Is there a real estate word that we failed to explain here in our dictionary for homebuyers and sellers? Let us be your personal real estate dictionary! We'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 us know! We always appreciate feedback. Do any of these definitions raise questions for you? Didn't find the word you're looking for? Let us know! We're happy to answer ANY questions. It's our job! There's no obligation, and we promise to get back to you quickly...
| Q |
What real estate board game became the best-selling game in America just one year after it was created?
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| A |
Charles B. Darrow invented Monopoly in 1934, to cheer himself up while unemployed during the Great Depression. Monopoly is now the most popular board game in the world and has sold over 200 million copies. |
 See More Real Estate Trivia > |
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The Croney Team
RE/MAX Masters
425 East Southlake Blvd.
Southlake, TX. 76092
Nancy Croney: 817-781-9464
Jocelyn Croney-Sandruck: 817-781-9463
Fax: 817-488-4768
Email: Nancy@CroneyTeam.com
The Croney Team is a family team and together have over 35 years of real estate experience. We've been voted "Best Realtors in Dallas" by D Magazine and we'd like the opportunity to show you why. Our goal is to provide our clients with knowledge and care that exceeds their expectations. Call us today about our services.   
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