Welcome back to RealtyMyths weekly word wizard! Here are the words for this week.
Contingency – A condition that must be met before a contract is legally binding.
Delinquency – A loan in which a payment is overdue but not yet in default.
Due-On-Sale Provision – A provision in a mortgage that allows the lender to demand repayment in full if the borrower sells the property that serves as security for the mortgage.
Easement – A right of way giving persons other than the owner access to or over a property.