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Takeout Mortgage -
A permanent mortgage, obtained by pre-arrangement between a builder and a financial institution, to repay the interim mortgagee at the completion of construction.


Tax Lien -
A claim against real estate for the amount of its unpaid taxes.


Third-Party Origination -
A process by which a lender uses another party...

Sale-Buyback -
A financing arrangement in which an investor buys property from a developer and immediately sells it back under a long-term sales agreement, wherein the investor retains legal title.


Sale-Leaseback -
A financing arrangement whereby an investor purchases real estate owned and used by a business corporation, then leases the...

Rate Lock -
A commitment issued by a lender to a borrower or other mortgage originator guaranteeing a specified interest rate for a specified period of time at a specific cost.


Real Estate -
A portion of the earth's surface extending downward to the center to the earth and upward into space, including all things permanently attached...