Home Insurance Daily Digest

Because not all people are aware of the terms that are used in the real estate industry, and we wanted to at least help give out information, we are coming up with a dictionary of real estate jargon that will be on a weekly or monthly posting. Every post may contain five to ten real estate terms to help prospect investors to familiarize themselves with the business.

• mortgage – this is the legal document containing the property pledge that ties the lender to his debt as a payment security.
• closing or settlement – this is a meeting where the sale of a certain property is being finalized by means of mortgage documents signing and paying the closing or settlement costs.