| NATIONAL ASSOCIATION OF REALTORS (NAR) | A trade organization that sets the standards for the real estate profession and enforces a rigid code of honesty in real estate dealings. Membership includes real estate professionals across the country. |
| NEGATIVE AMORTIZATION | The situation in which the balance of a loan gets larger, rather than smaller each month because payments made are too small to cover the loan's interest charges. For example, if your monthly payment amount is based on a 4% interest rate but the actual rate. |
| NEGOTIATION | Discussions held between two or more parties for the purpose of resolving issues and reaching an agreement. |
| NOTARY | One authorized to take acknowledgments. (See acknowledgments) |
| NOTARY PUBLIC | One authorized by law to acknowledge and certify documents and signatures. Virginia does not require an applicant pass a test to become a notary. |
| NOTE | A written promise to pay a certain sum of money at a certain time. A negotiable note starts "Pay to the order of" and is transferable by endorsement similar to a check. |
| NSURANCE | A contract of indemnity against specified perils. |
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