Plain-language explanations of real estate and mortgage terms from official sources. Search by name or browse by your situation.
Buying
Terms you may see when purchasing a home.
Selling
Terms related to selling your home.
Mortgage & Financing
Loan types, rates, and financing vocabulary.
Coming soon
Mortgage Payments & Servicing
Payments, escrow, and working with your servicer.
Coming soon
Mortgage Help / Keeping Your Home
Options when payments are hard to manage.
Coming soon
Foreclosure
Foreclosure process and related terms.
Coming soon
Property & Ownership
Owning, maintaining, and holding property.
Coming soon
A short sale is when you sell your home for less than what you owe on your mortgage. This can help you avoid foreclosure, but you will need to move out of your home.
Forbearance means your servicer lets you pause or reduce payments for a short time. You still owe those payments later.
An escrow account is a special account created by your mortgage lender. It holds money from your monthly payments. This money is used to pay for property taxes and homeowner's insurance.
Equity is the value of your home minus what you owe on your mortgage. It shows how much of the property you own.
656 terms. Jump to a letter or scroll the full index.
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