REAL ESTATE TERMS

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There are currently 5 names in this directory beginning with the letter N.
NEGATIVE AMORITIZATION
A gradual increase in mortgage debt that occurs when the monthly payment is not large enough to cover the entire principal and interest due. The amount of the shortfall is added to the remaining balance to create “negative” amortization.

NEGOTIATION
The transaction of business aimed at reaching a meeting of minds among the parties; bargaining.

NOTARIZE
To certify or attest to a document, as by a notary public.

NOTE
A legal document that obligates a borrower to repay a mortgage loan at a stated interest rate during a specified period of time.

NOTE RATE
The interest rate stated on a mortgage note.