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A closing disclosure is a legally-required, five-page statement of your final mortgage loan terms and closing costs. It contains details about your loan term, monthly payments, fees and other ...
Doing damage. A term applied to a person's cattle or beasts found upon another's land, doing damage by treading down the grass, grain, etc. [9] Dual representation. A concept where one lawyer represents two people who may have conflicting interests. [10] [11] It may occur in immigration law, family law, or real estate law, for example.
The following pages contain lists of legal terms: List of Latin legal terms; List of legal abbreviations; List of legal abbreviations (canon law) on Wiktionary: Appendix: English legal terms; Appendix: Glossary of legal terms
For example, statistics show that African American buyers are 3.3 times more likely than white buyers to be in foreclosure, while Latino and Asian buyers are 2.5 and 1.6 times more likely, respectively. As another statistical example, over 60 per cent of the foreclosures that occurred in New York City in 2007 involved rental properties. Twenty ...
The mortgage or deed of trust is the agreement between you and your mortgage lender to put the home up as collateral for the loan. “In layman’s terms, it gives the lender the right to ...
As pointed out by Sandro Nielsen in 1994, law dictionaries can serve various functions. The traditional law dictionary with definitions of legal terms serves to help users understand the legal texts they read (a communicative function) or to acquire knowledge about legal matters independent of any text (a cognitive function) – such law dictionaries are usually monolingual.
By law, your VA lender is required to provide an estimate of all the closing costs associated with your loan within three days of applying for it, as well as a finalized list of the closing costs ...
The escrow payment used to pay taxes and insurance is a long-term escrow account that may last for years or for the life of the loan. Escrow can also refer to a shorter-term account used to facilitate the closing of a real estate transaction.