Good Morning Readers,
Excited to say that I will be finishing up the Real Estate Alphabet today! Here are letters R-T
Revolving Debt: A credit arrangement, such as a credit card, that allows a customer to borrow against a preapproved line of credit when purchasing goods and services. The borrower is billed for the amount that is actually borrowed plus any interest due.
Second Mortgage: A mortgage that has a lien position subordinate to the first mortgage.
Second Loan: A loan that is backed by collateral.
Subdivision: A housing development that is created by dividing a tract of land into individual lots for sale or lease.
Title Insurance: Insurance that protects the lender (lender's policy) or the buyer (owner's policy) against…
