by Ethan Atkinson | Sep 29, 2026 | F-J, PropertyPedia
HER and OER (Housing Expense Ratio and Overall Expense Ratio) are ratios used by mortgage lenders to evaluate whether a borrower can reasonably afford a proposed mortgage loan. The Housing Expense Ratio (HER) compares the borrower’s expected monthly housing expenses...
by Ethan Atkinson | Sep 22, 2026 | F-J, PropertyPedia
Mortgage professionals are not professional stylists, but this doesn’t mean they don’t do haircuts. In the mortgage loan business, a haircut is a reduction applied to the stated or market value of an asset when determining how much credit, financing, or collateral...
by Ethan Atkinson | Sep 11, 2026 | F-J, PropertyPedia
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...
by Ethan Atkinson | Jul 28, 2026 | F-J, PropertyPedia
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...
by Ethan Atkinson | Jul 21, 2026 | F-J, PropertyPedia
Imagine a world in which an accepted offer on a property is not legally binding, and either the seller or buyer can pull out of the accepted offer just for fun. This world is not so imaginary if you’re in England or Wales, where an accepted offer on a home is...
by Ethan Atkinson | Jul 1, 2026 | F-J, PropertyPedia
Fractional or Severed Wind Rights refer to the ownership or control of the right to develop, lease, or receive income from the wind resources over a parcel of land when those rights have been divided from the ownership of the surface estate. In some areas,...
