Mortgage in Disguise

A mortgage in disguise definitely doesn’t sound like something you want to apply for; it sounds more like a mortgage that finds you, and not in a good way. Unfortunately, this isn’t too far off from the actual definition. A mortgage in disguise is a...

Interim Occupancy Fee

An interim occupancy fee is an amount paid by a buyer who is permitted to occupy a property before the purchase has formally closed or before legal title has been transferred. It is most commonly associated with newly constructed condominium units, particularly in...

Excess Condemnation

Excess condemnation sounds like a bad thing, but it’s actually meant to benefit homeowners whose land is condemned. Excess condemnation occurs when a government or other public authority takes more private property through eminent domain than is strictly...

Bullet Loan

A bullet loan may sound a bit violent, but don’t worry, there’s no need to call emergency services (unless you count your stock broker as an emergency contact). A bullet loan is a type of loan in which the borrower makes relatively small payments,...

Shadow Inventory

Shadow inventory sounds sinister, and it certainly may feel that way if your own home is involved. Shadow inventory refers to residential properties that are often distressed or in foreclosure that are likely to enter the real estate market but are not currently...

Soft Second Loan

A soft second loan is a second mortgage used to help a homebuyer cover the down payment, closing costs, or part of the purchase price. It is called “soft” not because it is physically squishy, of course, but because it is very flexible; the repayment terms...