A comparison of a borrower's monthly expenses to her gross monthly income used to assess her ability to carry a mortgage or other loan. …
Back Title Letter (or Certificate)
Notice by a Title Insurance Company to a person searching and certifying title that a previous search has been completed, setting out the status of title of the property as at a given date such that …
Backup Contract
An Agreement of Purchase and Sale for a particular property which is conditional (becomes binding) upon the failure of another Agreement for the same property. …
Balance
Often as in "balance due", the amount of principal on a loan remaining to be paid at any given time. …
Balance Sheet
A table of figures showing the assets, liabilities and net worth of a person or corporation on a given date.A statement that shows the assets, liabilities, and net worth of an individual. …
Balloon (Loan) Mortgage
A loan which is repaid by a series of small, periodic payments until a given date, when either the balance comes due in a single, large payment or the amount of the payments rises significantly. …