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214.215.8283
Featuring Ken Tate as
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Real Estate Dictionary

   

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ORIGINATION FEEA fee paid to a lender for processing a loan application. It is stated as a percentage of the mortgage amount.
OWNER FINANCINGA purchase in which the seller provides all or part of the financing.
OWNER'S POLICYA policy of title insurance which insures a named owner against loss by reason of defects, liens and encumbrances or lack of marketability of the title. The company also agrees to defend covered claims made against the title.
OWNER'S TITLE INSURANCEA policy of Title Insurance for the buyer insuring the full purchase price of the property. The owner's policy usually contains an inflation endorsement automatically increasing the coverage each year to keep up with inflation, up to a maximum of 150% of.
OWNERSHIPThe right to possess and use property to the exclusion of others.
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