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Real Estate Terms - letter M



Real Estate Terms - letter M

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Letter M


Maturity
The date on which the main balance of a loan, bond, or other financial instrument becomes due and payable.

Modification
The act of changing any of the terms of the mortgage.

Money market fund
A mutual fund that allows persons to contribute in managed investments in short-term debt securities, such as certificates of deposit and Treasury bills.

Monthly payment mortgage
A mortgage that requires payments to reduce the debt once a month.

Mortgage
A legal document that pledges a property to the lender as security for payment of a debt.

Mortgage banker
A company that originates mortgages absolutely for resale in the secondary mortgage market.

Mortgagee
The lender in a mortgage agreement.