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Underwriting |
The process of analyzing a borrower's capability
to honor repayment of a loan (evaluating his or her credit, assets, employment)
along with the value of the property being purchased, to help minimize the risk
involved for the party lending the purchase money |
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Unilateral contract |
A one-sided contract in which only one party is
legally under obligation by the terms of the contract; one party promises an
action to the second party, who is not legally required to respond, but if the
second part does comply, then the first party is obligated to honor the promise
made |
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Unsecured loan |
A loan that is not guaranteed by
collateral |
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Usury |
The act of charging more than the maximum rate
of interest permitted by law |
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Did I Miss the Word YOU Are Looking For? Is there a real estate word that I failed to explain here in my dictionary for homebuyers and sellers? Let me be your personal real estate dictionary! I'll send a brief explanation of any word or term that you encounter when buying and selling property. Do you have a suggestion of a real estate word that should be included? Let me know! I always appreciate feedback. Do any of these definitions raise questions for you? Didn't find the word you're looking for? Let me know! I'm happy to answer ANY questions. It's my job! There's no obligation, and I promise to get back to you quickly...
| Q |
What island was sold to Peter Minuit by the Indians for goods valued at 60 guilders ($24)?
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| A |
Peter Minuit arrived with a group of Dutch settlers in 1626 and purchased what is now known as Manhattan. |
 See More Real Estate Trivia > |
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Susi Haviland
Stark Company Realtors
702 N. High Point Rd.
Madison, WI 53717
608-576-9211
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