A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

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Impound, or Reserves	The portion of a borrower's monthly payments held by the lender to pay for taxes, hazard and mortgage insurance, lease payments, and other items that will come due
Income approach	The method of estimating the value of a property by calculating its generated income
Income property	Real estate developed for the purpose of generating income
Indemnify	To provide for compensation in the case of loss or damage to property
Indemnity	The statement of terms under which loss or damage to property will be compensated
Index	A published interest rate used by lenders to compare the interest rate for an adjustable-rate mortgage (ARM) with that earned by other investments (e.g., the yield on Treasury bills, interest rate on loans from savings and loans institution, etc.), as a result of which the ARM interest rate is adjusted
Ingress	The right to enter on or over a piece of property
Insurable Title	A property title which an insurance company is willing to insure against possible claim
Installment contract, or Contract for deed	A contract for the sale of real estate whereby the buyer is in possession of the property while paying off the purchase price in periodic installments, despite the title being retained by the seller until the future date of final payment
Insured closing letter	An indemnity provided by a title insurance company to a lender, whereby the title insurance company assumes responsibility in the case that the closing agent does not fulfill the terms of the loan, or misappropriates the loan proceeds
Insured mortgage	A mortgage that is protected by the Federal Housing Administration (FHA) or by private mortgage insurance (MI) so that if the borrower defaults on the loan, the insurer compensates the lender the lesser of the loss incurred or the actual insured amount
Interest rate buydown plan	An arrangement made for the initial years of a mortgage whereby the seller (or any other party) deposits money into an account that is then released toward the monthly payments on the mortgage, thereby bringing the mortgagor's interest rate down below the actual interest rate
Interest rate ceiling	The maximum interest rate for an adjustable-rate mortgage (ARM), as specified in the mortgage note
Interest rate floor	The minimum interest rate for an adjustable-rate mortgage (ARM), as specified in the mortgage note
Interim financing	A temporary or short-term loan, often made during the construction phase of a building project, and usually replaced by a permanent long-term mortgage
In testate	The condition of dying without leaving a will. The description of an estate without a will
Involuntary lien	A claim or charge against property placed without the consent of the property's owner

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Maggie Chen LC Platinum Realty Inc. 150 Ouellette Place Windsor, ON N8X 1L9 Cell: 519-919-2398 Office : 519-972-3888 Toll Free: 1-855-972-3888 Fax: 519-972-3898 Email: Maggie@lcplatinumrealty.com A solid background in both mortgages and real estate plus a total dedication to CLIENT SATISFACTION explain our great sales success and our many satisfied customers. Maggie knows the Windsor/Essex area completely, listens to your hopes and dreams, and then converts them to tangible reality. Before you decide on any course of action involving Windsor/Essex Real Estate, talk to Maggie. You won't regret it! www.WindsorDreamHomes.com is brought to you by Maggie Chen, real estate for Windsor and Chatham, Ontario Read Maggie Chen's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge NUMBER1EXPERT® © Homes Media Solutions™, a division of Dominion Enterprises and/or its clients. All rights reserved. All information deemed reliable but not guaranteed.