Orange County Real Estate FAQ
|
Mortgage Terminology
|
S
Satisfaction of Mortgage
The document issued by the mortgagee when the mortgage loan is paid in full. Also called a "release of mortgage."
TOP
Second Mortgage
A mortgage made subsequent to another mortgage and subordinate to the first one.
TOP
Secondary Mortgage Market
The place where primary mortgage lenders sell the mortgages they make to obtain more funds to originate more new loans. It provides liquidity for the lenders.
TOP
Security
The property that will be pledged as collateral for a loan.
TOP
Seller Carry Back
An agreement in which the owner of a property provides financing, often in combination with an assumable mortgage. See owner financing.
TOP
Servicer
An organization that collects principal and interest payments from borrowers and manages borrower escrow accounts. The servicer often services mortgages that have been purchased by an investor in the secondary mortgage market.
TOP
Servicing
All the steps and operations a lender performs to keep a loan in good standing, such as collection of payments, payment of taxes, insurance, property inspections and the like.
TOP
Settlement/Settlement Costs
See closing/closing costs
TOP
Shared Appreciation Mortgage (SAM)
A mortgage in which a borrower receives a below market interest rate in return for which the lender (or another investor such as a family member or other partner) receives a portion of the future appreciation in the value of the property. May also apply to mortgage where the borrowers shares the monthly principal and interest payments with another party in exchange for part of the appreciation.
TOP
Simple Interest
Interest which is computed only on the principle balance.
TOP
Standard Payment Calculation
The method used to determine the monthly payment required to repay the remaining balance of a mortgage in substantially equal installments over the remaining term of the mortgage at the current interest rate.
TOP
Step Rate Mortgage
A mortgage that allows for the interest rate to increase according to a specified schedule (i.e., seven years), resulting in increased payments as well. At the end of the specified period, the rate and payments will remain constant for the remainder of the loan.
TOP
Survey
A measurement of land, prepared by a registered land surveyor, showing the location of the land with reference to known points, its dimensions, and the location and dimensions of any buildings.
TOP
Sweat Equity
Equity created by a purchaser performing work on a property being purchased.
TOP
|
 |
|
|
Click on City Below for Real Estate in that City
Click on Topics below to go to more information on that Topic
|
|
|
|
|
|
|
|
|
Orange County real estate can be acccessed by city from the cities listed below. Orange County Shopping is going to great lengths to provide you with the best possible access to Orange County real estate information over all of Orange County. To make this possible we a currently putting together a group of around forty of the top realtors in Orange County. We will be providing you information from the best of the best. Please bear with us as we go through this process.
If you are a real estate professional and would like to be listed here, please contact us.
If you're interested in leasing Orange County Commercial Property in a particular location, go to the Orange County city map page, click on a city, then click on Shopping Centers and find the shopping center you're interested in. We are currently adding to our list of shopping centers. We list the property management company wherever we can. If you manage Orange County commercial property and would like to be listed here, please contact us
|
