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Assistant Secretary Michael S. Barr Remarks to the National Council of State ... - RealEstateRamaAssistant Secretary Michael S. Barr Remarks to the National Council of State ...RealEstateRamaIn recent years, as the private market offered increasingly risky loans, HFAs continued to offer responsible mortgage products – generally fully ...and more »
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Today's Mortgage Terms starting with S
Second Mortgage: An additional mortgage that has rights that are secondary to the first mortgage.
Seller’s Market: Market conditions that are favorable to sellers. There are more buyers than properties available for sale. The buyers may be forced to compete and pay more for the same property.
Settlement Costs: Money paid by the borrowers and sellers to complete the closing of a mortgage.
Settlement Cost (HUD Guide): HUD publishes a booklet that gives an overview of the lending process and is given to consumers after completing their loan application.
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