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Mortgage Term Glossary

Assurance Financial

The assessed value of your home is how much it is worth in the eyes of the tax agency in your municipality. The assessed value is used to calculate your property taxes. A lender might set up an escrow account where they hold money that goes toward your property tax payments and homeowners insurance premiums.

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What to Do If You Inherit A Home

McKissock

The legal issues or responsibilities, on the other hand, might involve situations where the property is co-inherited, for example, among siblings, and working together to find a common resolution becomes a nightmare. Tax liabilities: This can include federal estate taxes and property taxes. Download here.

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Real Estate Appraisers Share How They Stand Out from the Competition

McKissock

” Free download: Ready to launch your appraisal career? I use the iPad to do inspections. ” Free download: Navigate smoothly through every appraisal assignment with The Valuation Process Road Map. ” “Vast knowledge of many property types. .” Personal characteristics or traits.

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Important Mortgage Acronyms

Assurance Financial

If the house doesn’t pass inspection or the sale doesn’t go through due to an allowable contingency, the buyer gets the EMD back. Downloadable Guides. Click here to download the file. Click here to download the file. FAIR (Fair Access to Insurance Requirement). So, please feel free to contact me.