- Principal
- The initial amount of money on which interest, returns, or tax liabilities are calculated.
- Interest rate
- The percentage charged or earned per period on the principal, expressed as an annual rate unless stated otherwise.
- Compounding
- The process by which interest is added to the principal so that subsequent interest is earned on the combined amount.
- Present value
- The current worth of a future sum, discounted at a given rate to account for the time value of money.
- Title defect cure
- A key concept referenced by the Title Defect Cure Cost: Estimate the cost to cure common title defects before closing. Covers: unreleased mortgages ($300-800), judgment liens (lien amount + interest), mechanics liens (bond or negotiated payoff), missing heirs (probate $2,000-15,000), and boundary encroachments.
- Clear title defect
- A key concept referenced by the Title Defect Cure Cost: Estimate the cost to cure common title defects before closing. Covers: unreleased mortgages ($300-800), judgment liens (lien amount + interest), mechanics liens (bond or negotiated payoff), missing heirs (probate $2,000-15,000), and boundary encroachments.
- Unreleased mortgage
- A key concept referenced by the Title Defect Cure Cost: Estimate the cost to cure common title defects before closing. Covers: unreleased mortgages ($300-800), judgment liens (lien amount + interest), mechanics liens (bond or negotiated payoff), missing heirs (probate $2,000-15,000), and boundary encroachments.
- Judgment lien
- A key concept referenced by the Title Defect Cure Cost: Estimate the cost to cure common title defects before closing. Covers: unreleased mortgages ($300-800), judgment liens (lien amount + interest), mechanics liens (bond or negotiated payoff), missing heirs (probate $2,000-15,000), and boundary encroachments.
- Title problem cost
- A key concept referenced by the Title Defect Cure Cost: Estimate the cost to cure common title defects before closing. Covers: unreleased mortgages ($300-800), judgment liens (lien amount + interest), mechanics liens (bond or negotiated payoff), missing heirs (probate $2,000-15,000), and boundary encroachments.