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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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Shannon Aronson Keller Williams Realty Premier Properties 488 Springfield Avenue Summit, NJ. 07901 Mobile: 973-214-0691 Office: 973-376-0033 x 124 Fax: 908-273-2996 Email: ACutAbove@ShannonAronson.com Shannon started her local real estate career 8 years ago with investment properties, both renovating houses for resale and acquiring rental properties. Because of her experience with buying and selling, Shannon is sensitive to the needs and expectations of buyers and sellers. Shannon Aronson has a Masters degree from New York University. Whether in life or in business, Shannon Aronson approaches her goals with unbridled determination, commitment and enthusiasm. Her dedication to achieving only optimal results makes her a sought after real estate agent in the area. Shannon uses her investment experience, her skills in negotiation and cutting edge Internet marketing to help her clients achieve their dreams. When you’re in the market to buy or sell your home in the area, Shannon Aronson and her team of competent professionals will deliver results that are A Cut Above. Looking for Real Estate in Short-Hills, Millburn, Summit, Maplewood & Livingston, New jersey, I can help! call today to schedule a private consultation. www.ShannonAronson.com is brought to you by Shannon Aronson NUMBER1EXPERT™ in real estate for Summit, Millburn, Short-Hills and Maplewood, New Jersey Read Shannon Aronson's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

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