REAL ESTATE TERMS

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There are currently 5 names in this directory beginning with the letter F.
FAIR CREDIT REPORTING ACT
A consumer protection law that regulates the disclosure of consumer credit reports by consumer/credit reporting agencies and establishes procedures for correcting mistakes on one's credit record.

FAIR MARKET VALUE
The highest price that a buyer would pay for a property and the lowest price a seller is willing to accept.

FANNIE MAE (FNMA)
The Federal National Mortgage Association, which is a congressionally chartered, shareholder-owned company that is the nation's largest supplier of home mortgage funds.

FORECLOSURE
The legal process by which the lender takes possession and ownership of a property when the borrower fails to meet the mortgage obligations.

FSBO
For Sale By Owner.