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A 10/1 ARM is a hybrid mortgage — that is, a mortgage with a fixed and a variable period. For the first 10 years, the borrower pays the same interest rate on the loan. After that, the rate can ...
When choosing between a 10/1 ARM vs. a 30-year fixed mortgage, consider your long-term plans, 30-year fixed vs. 10/1 ARM pros and cons and whether the potential risks and costs of an ARM outweigh ...
Adjustable-rate mortgage. A variable-rate mortgage, adjustable-rate mortgage ( ARM ), or tracker mortgage is a mortgage loan with the interest rate on the note periodically adjusted based on an index which reflects the cost to the lender of borrowing on the credit markets. [ 1] The loan may be offered at the lender's standard variable rate ...
The Interstate Land Sales Full Disclosure Act of 1968 ( ILSFDA or ILSA or "Act") was an act of Congress passed in 1968 to facilitate regulation of interstate land sales, to protect consumers from fraud and abuse in the sale or lease of land. The Act was patterned after the Securities Act of 1933 and required land developers to register ...
Property law. The vast majority of states in the United States employ a system of recording legal instruments (otherwise known as deeds registration) that affect the title of real estate as the exclusive means for publicly documenting land titles and interests. The record title system differs significantly from land registration systems, such ...
The arm's length principle ( ALP) is the condition or the fact that the parties of a transaction are independent and on an equal footing. [ 1] Such a transaction is known as an "arm's-length transaction". It is used specifically in contract law to arrange an agreement that will stand up to legal scrutiny, even though the parties may have shared ...
Assuming a 5 percent total commission under that model, here’s roughly what sellers could expect to pay based on the price their home sells for: Home’s sale price. Seller’s agent commission ...
Buyer brokerage. A buyer brokerage or buyer agency is the practice of real estate brokers and their agents representing a buyer in a real estate transaction rather than, by default, representing the seller either directly or as a sub-agent. In the United Kingdom and Australia, the most common term is buying agent .