Jo Dorner

Real Estate Glossary

negative amortization
A loan in which the monthly payments are smaller than the monthly interest generated. As the unpaid interest is added to the principal, the amount owed on the loan grows.
no cash-out refinance
A loan whose proceeds are handed not to the borrower, but directly to the lender of an old loan.
no-cost loan
A loan in which the lender pays for your closing costs such as settlement fees, title insurance, escrow fees, etc. Such a loan usually has a higher interest rate than a traditional mortgage.
note
A legal document acknowledging a debt which the borrower must repay at a stated interest rate during a specific period of time.
note rate
The interest rate on a mortgage note.
Joline L. Dorner R(S) 29732
Hawaii Life Real Estate Brokers
Christie’s International Real Estate
Who’s Who Hawaii Real Estate
Top 100 for 2008
www.jodorner.com
Cell 808 276 9015
Office 808 667 5028
Email: Jo@JoDorner.com
Hawaii Life
Mailing Address
Jo Dorner, R(S)
P.O. Box 998
Lahaina, HI 96767
Meyer Computer, Inc.
Web Services provided by Meyer Computer, Inc.
Web Hosting & Design