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Underwriting |
The process of analyzing a borrower's capability
to honor repayment of a loan (evaluating his or her credit, assets, employment)
along with the value of the property being purchased, to help minimize the risk
involved for the party lending the purchase money |
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Unilateral contract |
A one-sided contract in which only one party is
legally under obligation by the terms of the contract; one party promises an
action to the second party, who is not legally required to respond, but if the
second part does comply, then the first party is obligated to honor the promise
made |
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Unsecured loan |
A loan that is not guaranteed by
collateral |
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Usury |
The act of charging more than the maximum rate
of interest permitted by law |
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| Q |
What document must lenders provide within three days of receiving your application for financing?
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| A |
The "Truth In Lending Disclosure Statement" will give you complete financial information about the loan. |
 See More Real Estate Trivia > |
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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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