Mortgage Glossary, Loan
Terms and Economic Terms for Interest Only Loans
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Mortgage Glossary - S Terms
Settlement: another name
for closing .
Special Forbearance: a
loss mitigation option where the lender arranges a revised repayment
plan for the borrower that may include a temporary reduction or
suspension of monthly loan payments.
Subordinate: to place
in a rank of lesser importance or to make one claim secondary to
another.
Survey: a property diagram
that indicates legal boundaries, easements, encroachments, rights
of way, improvement locations, etc.
Sweat equity: using
labor to build or improve a property as part of the down payment
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