The use of a small amount of cash (for example, a 5 percent down payment) to buy a piece of property. …
Listing Broker
A real estate broker responsible for the listing of the property and representing the interest of the seller. (Also called a listor or seller's broker.) …
Levy
The amount of money a governing body certifies to be raised from the property tax. …
Liabilities
A borrower's debts and financial obligations. Outstanding debts of an individual. Mortgages, loans, credit card balances. …
Liability Insurance
A policy that protects owners against any claims of negligence, personal injury, or property damage. …
LIBOR
Acronym for "London Interbank Offered Rate." An index used to determine interest rate changes for adjustable rate mortgages. …