The interest rate specified in a mortgage note. …
Notice of Default
A lender's initial action when a mortgage payment is late and attempts to reconcile the issue out of court have failed. …
Novation
Novation is a legal process that occurs when an existing contract is replaced by a new one, transferring all rights, obligations, and liabilities from the original parties to new parties. In real …
O-Ring
A small rubber ring that provides a water seal in faucets and other plumbing fittings. …
Obsolescence
Loss in value because a home's design and construction have become obsolete. …
Online Real Estate Listings
Properties listed for sale on the Internet. …