Real Estate Terms
These loans are part of a group of loans that are insured by the federal government. This means that instead of actually lending money, they insures banks and private lenders that they will cover losses they might incur in the event that the borrower does not repay the loan in full or timely.
FHA loans
They often ask to see more - another demo, more data, another presentation etc
Consensus builder
What does FHA stand for?
Federal Housing Administration
This is to incentivize buyers to purchase the home, or sweeten the deal.
Seller concession
This refers to a financial agreement where a neutral third party holds assets or funds before they are transferred from one party in a transaction to another
Escrow
If you waste their time, you lose them.
Director
What does POA stand for?
Power of Attorney.
This loan is guaranteed by the government (Department of Veteran Affairs) and available to the military, active and retired, and even for some eligible spouses, at low-to-no-down payment scenarios with competitive rates and fees.
VA
This is a private association that manages a planned community or condominium.
This lead needs to feel appreciated
Social Engergizer
What does CMA stand for?
A comparative market analysis
This term refers to the place where the elderly will move to get access to help in their daily routines
Assisted Living/Nursing Home
To calculate this, take the market value of the home and subtract any mortgages or liens against the property.
Equity
When you give wrong answers to these leads, they will quickly disqualify you as a proper resource
Analyzer
What does SWLK stand for?
Swerto Mo Libre Ka
A motivation to sell in order to avoid getting the property repossessed by the financial institution or bank.
Preforeclosure / Foreclosure