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PITI Ratio
PITI Ratio: The principal, interest, tax and insurance payment to income ratio. Used in mortgage lending decisions. CALL US AT OUR...
PITI
PITI: Refers to principal, interest, taxes and insurance, the four majorcomponents of a usual monthly mortgage payment. CALL US AT OUR...
Perfecting Title
Perfecting Title: Process involving the elimination of any adverse claims against a title. CALL US AT OUR 24 HOUR CUSTOMER SERVICE...
Mortgage
Mortgage: A legal document used to secure the performance of an obligation. CALL US AT OUR 24 HOUR CUSTOMER SERVICE HOTLINE:...
Metes and Bounds
Metes and Bounds: A form of land description in which boundaries are described by courses, directions, distances and monuments. CALL...
Mechanic’s Lien
Mechanic’s Lien: A lien on real estate which secures the payment of debts due to persons who perform labor or services or furnish...
Market Value
Market Value: An appraisal term denoting the highest price that a buyer, willing but not compelled to buy, would pay, and the lowest a...
Marketable Title
Marketable Title: Title which is free from defects which would allow a purchaser to be released from his obligation to purchase. CALL...
Loan-to-Value Ratio
Loan-to-Value Ratio: The ratio of the mortgage loan’s principal to the property’s appraised value or its sales price, whichever is...
Lis Pendens
Lis Pendens: Legal notice that a lawsuit is pending. Also called a notice of action. CALL US AT OUR 24 HOUR CUSTOMER SERVICE...
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