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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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| Q |
What is a "jumbo mortgage"?
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| A |
The term "jumbo mortgage" currently refers to a mortgage loan in excess of $359,650, although the threshold amount may change as the market fluctuates. |
 See More Real Estate Trivia > |
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Barbara Zuckerman
TTR Sotheby's International Realty
5454 Wisconsin Avenue
Chevy Chase, Md. 20815
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Office: 301-967-3344
Fax: 301-664-9425
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As one of America's NUMBER1EXPERTS™ in the Washington D.C. area, including Montgomery County, Maryland and Northern Virginia, Barbara is in the Top 1% of all real estate agents in the US. She will get you results! Barbara is well equipped to guide you through all your real estate needs. Please do not hesitate to contact her for more information   
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