by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
A mortgage broker helped to pair lenders with buyers who meet the lenders requirements. The broker is not providing the financing of the loan, but will earn commission from any loan that results from a referral by the broker. A broker can be a great resource for...
by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
When a home is sold for less than the total amount of a loan, this is called a short sale. A homeowner may utilize this type of sale as it carries a lower consequence on credit than a foreclosure and may prevent a potential lawsuit due to loan deficiency. This type of...
by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
A pre-approval letter is an unofficial letter from a mortgage company that notifies the agents and sellers to the amount of money a buyer may borrow to purchase a house. Sellers may require that a buyer provide this document to ensure they are only entertaining...
