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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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Robert Lindsay - Licensed Real Estate Agent Coldwell Banker Residential Brokerage 1410 Valley Road Wayne, NJ. 07470 Office: 973-694-8000 x175 Direct: 973-692-3535 Voice Pager: 973-806-3319 Fax: 973-694-4983 Email: info@BobLindsay.net
Robert Lindsay...Energy & Experience serving the Wayne area along with most of Passaic & Morris County. Bob has been recognized as one of North Jersey's Top Producers since he entered the business in 1976. The Number One Agent in Coldwell Banker's Wayne Office each year since he joined the company, he is a Platinum Level Award Winner of the NJAR Circle of Excellence signifying annual sales in excess of $25,000,000. He is a member of Coldwell Banker's International President's Elite, which is comprised of the top one percent of the company's sales force nationwide. Call or email Bob today for a confidential real estate consultation. He and his Team of agents can bring a level of competence, experience, and professionalism to your real estate experience that is unmatched in the Wayne area.
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