1. A written commitment from an insurance company to insure a property or a certain risk; or2. A preliminary agreement to purchase a property accompanied by a forfeitable deposit which is lost if the …
Biweekly Loan or Mortgage
A loan which features payments equalling one half of the usual monthly payment made every two weeks (to total 26 in a year), thus substantially reducing the life of the mortgage and the interest …
Blanket Insurance Policy
A single insurance policy that applies to more than one person or property. …
Blanket Mortgage
A Blanket Mortgage is a type of loan used to finance the purchase of more than one piece of real estate property. It's a single mortgage that covers multiple properties, allowing the borrower to …
Blended Rate
Created when an old loan is refinanced and extended at an interest rate which is different from the original rate: the old debt is still payable at the old rate; the new debt is payable at the new …
Benchmark
A permanent feature on land which is used as a point of reference for a land surveyor.A survey mark made on a monument having a known location and elevation, serving as a reference point for …