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NATIONAL ASSOCIATION OF REALTORS®
(NAR) |
A real estate trade organization that sets the
standards for integrity and honesty within the real estate profession
nationwide |
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Negative amortization |
A gradual increase in the balance of a loan or
mortgage which occurs because the monthly payments made are too small to cover
the entire principal and interest charges; this shortfall amount is added to
the remaining balance, resulting in negative amortization |
|
Net listing |
The advertisement of the price of property for
sale in terms of the net price the seller will receive, once the property is
sold, a type of listing which is illegal in many states |
|
Net worth |
The total value of all of an individual's
assets, minus all liabilities or debts |
|
No cash-out refinance |
A transaction for refinancing a mortgage in
which the new mortgage amount is limited to the sum total of the remaining
balance of the first mortgage, points, closing costs, whatever is required to
satisfy any liens that are more than one year old and other funds for the
borrower's use (as long as the amount is one percent or less of the principal
amount of the new mortgage) |
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Notary |
An individual authorized by law to certify
documents and signatures |
|
Note |
A legal document that obligates a borrower to
repay a loan or owed sum of money at a stated interest rate over a designated
period of time |
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| Q |
At the doors of what famous temple do you find yourself when you climb the 'Stairway to Heaven'?
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| A |
The Temple of Heaven in Beijing, China, attracts the local faithful and tourists. |
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Andy Hodes & The Scenic City Team
Keller Williams Realty
1200 Premier Dr., Suite 140
Chattanooga, TN 37421
423-664-1822
Fax: 423-664-1820
andy@andyhodes.com
Thank you for visiting my website and I hope you enjoy learning about what Chattanooga has to offer. It is one of the most beautiful cities in the Southeast. I am licensed in both Tennessee and Georgia. Please feel free to contact my team at anytime, we are here to assist you in your specific needs. I grew up in Chattanooga and moved away after college. When I married my wife, we decided to move back to Chattanooga to raise our family.
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