Real Estate Lingo — Part II
Dual Agent: A certified real estate seller who corresponds to both buyer and vendor in a business deal at the same time. Escrow: A process in which an unbiased party holds all funds, documents, which are required to the sale, with directives from both buyer and seller as to their use and disposition.FHA Loan: A loan covered by the Federal Housing Administration as a division of Department of Housing and Urban Development. It facilitates lenders to make mortgages to borrowers who might not meet the requirements for conventional loans.Graduated Payment Mortgage: A mortgage primarily presenting low monthly costs that proliferate at fixed intervals and at a predetermined rate.
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