Term | Main definition |
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Deed of Trust | An instrument used in many states in place of a mortgage. Property is transferred to a trustee by the borrower (trustor) in favor of the lender (beneficiary), and reconveyed upon payment in full. |
Disclosures | Documentation that refers to certain terms and conditions and which, for example, complies with the banks’ disclosure requirements (for example potential closing costs, insurances, interest rates, etc.). |
Discount Points | |
Documentary stamps | A tax levied on the transfer of a property calculated by a percentage. In Florida are charges on the mortgage and on the deed. Each state and county may vary. |