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FAIR MARKET VALUE -The hypothetical price that a willing buyer and seller will agree upon when they are acting freely, carefully, and with complete knowledge of the situation.
PMI -Private Mortgage Insurance; privately-owned companies that offer standard and special affordable mortgage insurance programs for qualified borrowers with down payments of less than 20% of a purchase price.
Real Estate Investment Trust REIT - Mortgage REITs deal in investment and ownership of property mortgages. These REITs loan money for mortgages to owners of real estate, or invest in (purchase) existing mortgages or mortgage backed securities. Their revenues are generated primarily by the interest that they earn on the mortgage loans.
ALTERNATE DISPUTE RESOLUTION (ADR) can be a real estate legal option
This is A range of different forums and processes which can be utilized to resolve a dispute.
For example arbitration, collaborative problem-solving/consensus-building, negotiation, facilitation, mediation and conciliation.
Acceleration clause is a real estate contract option
A provision in a mortgage, trust deed, promissory note or contract for deed (agreement of sale) that, upon the occurrence of a specified event, gives the lender (payee, obligee or mortgagee) the right to call all sums due and payable in advance of the fixed payment date.
Additional free copies of "Tenants' Rights Guide" are available from the New York State Attorney General's Office, 120 Broadway, New York, NY 10271 or from any regional office of Attorney General Eliot Spitzer.
NY real estate lawyers handle legal cases related to real estate laws for New York, the surrounding states and following areas:
