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Chapter 9,10 & 11 Terms
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primary market
lenders who make mortgage loans directly to borrowers
term loan
loan in which the borrower makes periodic payments of interest
mortgage loan
loan secured by real property
interest
charge by a lender to a borrower for the use of money
power of sale
power given to a lender or to a trustee on behalf of the lender to sell the mortgaged property
foreclosure
sale brought by a holder of a mortgage
promissory note
legal document that contains a promise by one property to pay money to another party
deed of trust
legal document that conveys title to real property to a trustee
financing statement
form that is recorded to give notice that there is security interest
security agreement
legal document that pledges personal property as security for a debt
Author
kikicutler
ID
8630
Card Set
Chapter 9,10 & 11 Terms
Description
Real Estate
Updated
2010-03-01T17:45:02Z
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