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Mortgage Refinancing in Longview, Texas.
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Appraised Value The fair market value an appraiser assigns to a particular property, based on analysis of the property in question, and the market conditions in the area, and recent sales data of comparable homes in the area.
Equity In real estate, the interest or value of the real estate over and above the amount of the indebtedness thereon.
Foreclosure A termination of the rights of the mortgagor in the property covered by the mortgage; a court process instituted by a mortgagee or lien creditor to defeat any interest or equity of redemption which the mortgagor or debtor-owner may have in the property.
Second Mortgage A mortgage made subsequent to another and subordinate to the first one.
