 |
|
Sponsor Links
|
|
|
 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
|
|
|
|
Click
Here to Browse
By Letter
|
|
#
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
|
|
|
Hazard Insurance: Insurance to compensate
the insured for loss of property due to hazards
(fire, hail damage, etc.).
HECM: A loan that enables older home
owners to convert the equity they have in their
homes into cash, usually in the form of monthly
payments. A borrower does not qualify on the
basis of income but on the value of his or her
home. In addition, the loan does not have to be
repaid until the borrower no longer occupies the
property.
HOA: In some areas, also known as
Homeowners Association Fees, these are charges
paid to the Homeowners Association by the owners
of the individual units in a condominium or
planned unit development (PUD) and used to
maintain the property and common areas.
Home Equity Conversion Mortgage: A loan
that enables older home owners to convert the
equity they have in their homes into cash,
usually in the form of monthly payments. A
borrower does not qualify on the basis of income
but on the value of his or her home. In
addition, the loan does not have to be repaid
until the borrower no longer occupies the
property.
Home Equity Line of Credit: A mortgage
loan, usually in second position, that allows
the borrower to obtain cash drawn against the
equity of his home, up to a qualified amount.
Home Inspection: A thorough inspection by
a professional that evaluates the structural and
mechanical condition of a property. A
satisfactory home inspection is often included
as a contingency by the purchaser.
Homeowner Association Fees: In some
areas, also known as Homeowners Association
Fees, these are charges paid to the Homeowners
Association by the owners of the individual
units in a condominium or planned unit
development (PUD) and used to maintain the
property and common areas.
Homeowners' Association: A nonprofit
association of people/tenants who own
homes/units in a given area for the purpose of
improving or maintaining the quality of common
areas.
Homeowner's Insurance: An insurance
policy that combines personal liability
insurance and hazard insurance coverage for a
property and its contents.
Homeowner's Warranty: A type of insurance
often purchased by homebuyers that will cover
repairs to certain items, such as heating or air
conditioning, should they break down within the
coverage period. The buyer often requests the
seller to pay for this coverage as a condition
of the sale, but either party can pay.
Homestead: A home upon which the owner or
owners have recorded a Declaration of Homestead,
as provided by California statutes; protects
home against judgments up to specified amounts.
HUD Median Income: The median family
income for a particular area (county, city,
etc), as estimated by the Department of Housing
and Urban Development (HUD).
HUD-1 Settlement Statement: A document
that provides a complete breakdown of costs
involved in a real estate sale usually prepared
by broker, escrow, closing agent, title company,
or lender.
Hypothecate: To give something as
security without necessarily giving up its
possession; To mortgage real property.
|
|
|
|
|
|
|
|
|
|
