Real Estate for the Newcomer (Part 1)
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There are a lot of uncertainties in today’s real estate market. The buzz word phrase that a lot of people have been talking about is called sub-prime mortgage crisis. One lesson that can be learned from this situation is that having basic knowledge is definitely powerful. As a newcomer, you have to know the glossary of terms that will help you get familiar with real estate. Here they are:
Mortgage – a lien on property which secures the promise to repay a loan. It is a loan to finance the purchase of real estate, and usually has specified payment periods and interest rates.
