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Real Estate Glossary

What does Notice of Default mean?

A notice of default is a formal notice that informs a borrower that they have failed to make their mortgage payments and are in default on their loan. This notice is typically the first step in the foreclosure process and gives the borrower the opportunity to cure the default before the foreclosure process proceeds.

Appreciation

Common-Interest Development

Contingency

Contractor

Facade

Half-Bath

Index

Investment Property

Mint Condition

PMI

Prepaid Expenses

Prepayment Penalty

Radon disclosure

Seller Broker

Straight Sale

Trustee

Undisclosed Heir

Upzoning

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Beycome Family of Companies: Beycome Mortgage LLC provides home loans; Beycome Brokerage Realty LLC, Beycome Brokerage Realty Inc., and Beycome of Florida LLC provide real estate services; Beycome Title of Florida LLC provides title insurance services. These are separate entities under Beycome Corp., each governed by its own management as required by law, but all owned by the same individuals, forming a business relationship.
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Artur

Real Estate Assistant