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Impound, or Reserves	The portion of a borrower's monthly payments held by the lender to pay for taxes, hazard and mortgage insurance, lease payments, and other items that will come due
Income approach	The method of estimating the value of a property by calculating its generated income
Income property	Real estate developed for the purpose of generating income
Indemnify	To provide for compensation in the case of loss or damage to property
Indemnity	The statement of terms under which loss or damage to property will be compensated
Index	A published interest rate used by lenders to compare the interest rate for an adjustable-rate mortgage (ARM) with that earned by other investments (e.g., the yield on Treasury bills, interest rate on loans from savings and loans institution, etc.), as a result of which the ARM interest rate is adjusted
Ingress	The right to enter on or over a piece of property
Insurable Title	A property title which an insurance company is willing to insure against possible claim
Installment contract, or Contract for deed	A contract for the sale of real estate whereby the buyer is in possession of the property while paying off the purchase price in periodic installments, despite the title being retained by the seller until the future date of final payment
Insured closing letter	An indemnity provided by a title insurance company to a lender, whereby the title insurance company assumes responsibility in the case that the closing agent does not fulfill the terms of the loan, or misappropriates the loan proceeds
Insured mortgage	A mortgage that is protected by the Federal Housing Administration (FHA) or by private mortgage insurance (MI) so that if the borrower defaults on the loan, the insurer compensates the lender the lesser of the loss incurred or the actual insured amount
Interest rate buydown plan	An arrangement made for the initial years of a mortgage whereby the seller (or any other party) deposits money into an account that is then released toward the monthly payments on the mortgage, thereby bringing the mortgagor's interest rate down below the actual interest rate
Interest rate ceiling	The maximum interest rate for an adjustable-rate mortgage (ARM), as specified in the mortgage note
Interest rate floor	The minimum interest rate for an adjustable-rate mortgage (ARM), as specified in the mortgage note
Interim financing	A temporary or short-term loan, often made during the construction phase of a building project, and usually replaced by a permanent long-term mortgage
In testate	The condition of dying without leaving a will. The description of an estate without a will
Involuntary lien	A claim or charge against property placed without the consent of the property's owner

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

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Steve Malone Keller Williams Realty, www.kw.com Nancy G. McBride, Broker 815 W. King Street Martinsburg, WV 25401 Office: 304-264-1400 Fax: 304-264-1405 Cell: 304-279-6037 SteveMalone@NUMBER1EXPERT.com I spent 20 years with IBM before joining Keller Williams Realty in our Martinsburg, West Virginia office. "My time in the IT industry was rewarding; however, I was looking for a career where I could help people more directly. I wanted to feel passionate about my job, and I found it at Keller Williams. Whatever stage of life a person is in, the purchase of a new home is a significant event. Whether it's a starter home for a young family, a home sale because of relocation, or that dream home following retirement, buyers and sellers are looking for competent and caring service." My experience with technology-based tools combined with the intensive, ongoing training provided by Keller Williams has been very valuable in fulfilling the needs of my clients. My interpersonal and technology skills enable me to develop 'high touch' relationships with my clients. I manage all the details of your purchase or sale from home search or listing to a successful closing. After the sale, I will always be at your service. I have extensive experience with corporate, government and personal relocation. I have worked with clients throughout the U.S. who have moved to the eastern panhandle of West Virginia www.wvhomesforyou.com is brought to you by Steve Malone NUMBER1EXPERT™ in real estate for Charles Town WV, Martinsburg WV and Winchester VA, West Virginia Read Steve Malone's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

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