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214.215.8283
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Real Estate Dictionary

   

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UNDERWRITINGThe process of evaluating a loan application to determine the risk involved for the lender.
UNENCUMBEREDThe state of having no mortgages, liens, or other claims against a property. A property that is unencumbered is said to be "free and clear".
UNSECURED NOTEA loan that is not backed by collateral (property).
USURYCharging more than the maximum legally permitted rate of interest. There is no usury limit for loans secured by a first trust.Œ
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