Forbearance

Forbearance is a temporary agreement between a lender and a borrower that allows the borrower to reduce, suspend, or postpone some or all mortgage payments for a limited period when they are experiencing financial hardship. Forbearance does not eliminate the amount...

Two-Step Mortgage

Is a two-step mortgage is a type old-timey home loan dance? Well… it depends on how you define “dance.” Unfortunately, this mortgage doesn’t involve a lot of joyous dancing, though after it’s paid off, there may be dancing-related...

Condominium Conversion

What is a condominium conversion? Does this mean you can convert a condominium into whatever you want? It sure doesn’t! Condominium conversion refers to the process of changing an existing building, such as an apartment complex, hotel, or other multi-unit...

Condominium Parking Tandem

What is “Condominium parking tandem” in a real estate listing? Is this some kind of tandem bicycle parking? Nope! This refers to a parking arrangement in which two or more vehicles are parked one behind the other in the same parking space or parking area....

Condominium Deck Avail

What does “Condominium Deck Avail” mean in a real estate listing? Great question! Condominium deck availability indicates whether a condominium unit includes a private or exclusive-use deck, balcony, patio, or similar outdoor living space. In condominium...