See: Certified Public Accountant.

See: Certified Property Manager.

See: Community Reinvestment Act.

(1) A framework or support, built to shield or protect its contents. (2) The path prepared to catch a falling tree to prevent damage to the tree.

A term used in chapter 13 (wage earner restructuring debt) bankruptcy. A secured loan is reduced when the loan balance exceeds the reasonable value of the collateral security. The amount above that value becomes unsecured. Used mainly for personal property loans but now starting to be used for mortgage loans. A portion of the mortgage, if it exceeds the value of the property, can become an unsecured loan.

A space between the ground and the first floor of a structure (usually a house). Repair of utilities under the house may be made by a person crawling through the shallow space.

See: Certified Real Estate Brokerage Manager.

A general term which encompasses any method of financing property going beyond traditional real estate lending.

(1) The financial worthiness of a borrower. The history of whether this borrower has met financial obligations on time in the past. (2) An accounting term designating money received or receivable, as opposed to debit which is money payed or payable.

A company that compiles information on a person’s credit history. Also called a Consumer Reporting Bureau.

A number representing the credit worthiness of a potential borrower.

The requirement of additional collateral security, such as mortgage insurance, to protect a lender against loss.

The past and present debts of a potential borrower. It is used to see if the person pays obligations as agreed and whether any past defaults have led to judgments or bankruptcy.

See: Mortgage Life Insurance.

A maximum amount is established as a line of credit. The borrower can write checks up to this amount. This loan allows repayment and reborrowing during the life of the loan, but does not require repayment until the loan ends. This occurs either at the borrower’s sale of the property or the borrower’s death. See also: Reverse Mortgage.

A report on the past ability of a loan applicant to pay installment payments. Several national and local companies make such reports.

See: Credit bureau.

One who is owed money.

An agreement by creditors to take a portion of a debt as satisfaction for the total due. Generally done to avoid a debtor having to declare bankruptcy.

(1) The portion of the value of property which is mortgaged, rather than the equity. (2) The portion of the value of property upon which a first mortgage could be obtained.

(1) An inlet, going deeper into land than a cove. (2) A stream which empties into a river or bay.