Real Estate
Glossary
This glossary has been provided to help Colorado Springs
homebuyers understand the unique language
of the real estate business.
A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | Y | Z Bankruptcy:
Bankruptcy is a special kind of proceeding under federal laws.
Here the property of a debtor is protected by the court and
the property can be divided or distributed among the debtor's
creditors and the debtor.
Budget:
Budget means a detailed plan of your expenditure in certain duration
of time. It can help you to maintain your future investment and
expenditure.
Balloon payment:
Balloon payment is a lone where monthly payment is very low.
But the full balance ought to be paid on the maturity date. The
final lump sum payment that is made at the maturity date is called
Balloon payment.
Broker:
A broker is a negotiator between two parties. He brings the parties
together and assists them to negotiate contracts between them
for the commission or fee.
Bankrupt:
Someone who has surrendered all his assets to a court-appointed
trustee and is declared free from his due payment of his debts
by the court is called Bankrupt.
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