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Mortgage Terms Glossary

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W-Z

Walk-through: an inspection of a property by the prospective buyer prior to closing on a mortgage.  

Warranty deed: a document protecting a homebuyer against any and all claims to the property.   

Yield: the rate of earnings from an investment.

Zoning: the ability of local governments to specify the use of private property in order to control development within designated areas of land. For example, some areas of a neighborhood may be designated only for residential use and others for commercial use such as stores, gas stations, etc.

 

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Take Over Mortgage

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