The responsibility of two or more people to fulfill the terms of a home loan or debt. …
Insurance
Owners and buyers can purchase various types of insurance including hazard, private mortgage, and earthquake. The policies guarantee compensation for specific losses. …
Joint Tenancy
Joint tenancy is a form of property ownership where two or more individuals share equal ownership rights and interests in a property. This type of co-ownership is characterized by the right of …
Insurance Binder
A temporary insurance arrangement usually put in force until a permanent policy can be obtained. …
Joist
Part of the framing that provides the structure for a floor. In most homes, floor joists are made of 2-by-8s or larger lumber set on edge and spaced 16 inches apart, from center to center. …
Interest
The fee borrowers pay to obtain a loan. It is calculated based on a percentage of the total loan. The price paid to rent money. The rate of interest over a period of time for a specific amount …