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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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Margery Ostrow Weichert Realtors, Morristown East 20 Madison Avenue Morristown, NJ 07960 Office: 973 539 8000 Fax: 973-230-9060 Cell: 201-874-5932 margeryostrow@NUMBER1EXPERT.com Margery Ostrow has been in the real estate industry for over 18 years, having begun her career in New York City selling cooperative apartments and condominiums on the upper East Side, and immediately became the top-grossing salesperson her first year in business. Moving back to her native New Jersey with her family in 1991 Margery has been selling residences in Morris County ever since. With a proven track record in achieving at least 99% of list price within a 30-day time frame for sellers, Margery can definitely help the seller make more money and see the transaction move faster and smoother, from listing, through marketing and right up to closing. For Buyers she offers strong negotiating skills to help obtain the best price, attention to detail, patience, diligence and, above all, integrity. Through hard, full-time work and dedication she has achieved extreme success in helping people buy and sell their homes over the years, as a Cendant Mobility Marketing Specialist, Certified New Home Sales Specialist and Certified Corporate Relocation Specialist for ADP and other fine national companies. She has served as an active member of the community, volunteering for local school positions, serving at a local acute care nursing facility, and serving as chairperson of the grant committee of a charitable foundation. Read the testimonials of many whose lives she has touched, and then call Margery to answer all of your real estate questions and concerns! www.HomesByOstrow.com is brought to you by Margery Ostrow NUMBER1EXPERT™ in real estate for Mendham, Morris Township and Randolph, New Jersey, Luxury Homes, New Construction Read Margery Ostrow's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

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