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A B C D E F G H I J K L M N O P Q R S T U V W X Y Z


B

Balance Sheet: This is a form of statement which states information on any assets and other financial information regarding a specific point in time.

Balloon Mortgage: This is a mortgage which has the feature of payments due monthly and is structured on the idea of a schedule over thirty years, the balance on the mortgage which has been unpaid is required as a sum of lump payment when it comes to a specified point in time of the mortgage.

Balloon Payment: This is when the last payment, generally a lump sum, is due to be paid off on a mortgage.

Bankruptcy: This is when a person has been declared that they are unable to input into any of the debt that they currently hold, this is a legal statement but it will have an effect on the future of you borrowing any money.

Before-tax Income: This is the monthly earnings of a person before any form of tax has be subtracted.”

Biweekly Payment Mortgage: This is when payments are due on a mortgage every 2 weeks as opposed to the normal payment times of a mortgage.

Bona fide: This is a term to state an act carried out in the interest of good faith with no form of fraudulent activity taking place.

Bridge Loan: This is a loan which is borrowed for a short period of time and has been secured by the home in which the borrower is currently living in. The loan is used to fund any form construction on the property or the closing process of a newer property.

Broker: This is a person who's role is to be the party between the users and sellers of certain services and items.

Building Code: This is where a set of standards involving the building and upkeep of a property is set by local rules. This allows the safety and health of the civilians in the area.

Buydown: This is an agreement to which the rate of interest is slightly reduced for the mortgage payer, generally this is in the first years in which the loan has been taken out.

Buydown Account: This is where money is stored which can be used towards the payments for a mortgage when the monthly deposits are due when there is currently a buy down on the rate of interest in motion.

Real Estate Terminology B to Strategies

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