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Multiple listing service (MLS)

The Multiple Listing Service, or MLS, is a database containing all of the real estate listings in an area. Homes that are for sale directly by the owner are not included in the database. The database allows real estate professionals to review, analyze, and search for...

Second mortgage

A second mortgage may be taken on a property’s equity. These types of loans require the borrower to use their property as collateral. If a home were to enter foreclosure, the initial purchase loan is the first loan in...