"I joined the program on line February 7, 2008. I did not wait to receive the packet, I went to the web site and printed out possibilities for our new home. We looked at several properties. In less than two weeks we found what would become our new home. The foreclosed property was already scheduled to go up for bid over the internet. We had to obtain financing and obtain a letter of guaranty and submit an offer to the seller. We offered $131,000.00 and the seller paid 4% of the closing cost. Our new home required some cosmetic work to be done before we could move in. We moved into our new home May 2, 2008 and are very happy with our find. We intend to remain members of Consumer Resource Network for possible investment properties. THANK YOU CONSUMER RESOURCE NETWORK FOR OUR NEW HOME!"

- Steve and Carolyn M.

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Glossary of Terms


We have compiled a list of the most common real estate terms and definitions to assist you in your search for a home. Whether you are a buyer or seller of real estate it is easy to get confused by the language used in real estate transactions. With our comprehensive real estate glossary you can easily navigate through the complicated world of buying and selling a home.

Click in the letter below to see the glossary

A:B:C:D:E:F:G:H:I:J:K:L:M:N:O:P:Q:R:S:T:U:V:W:X:Y:Z


G


Ginnie Mae
(Government National Mortgage Association) GNMA or "Ginnie Mae," is an agency within the US Department of Housing and Urban Development. A government-owned agency, it buys mortgages from lending institutions and pools them to form securities, which it then sells to investors.
graduated-payment mortgage
A loan in which the monthly principal and interest payments increase by a certain percentage each year for a certain number of years and then level off for the remaining loan term.
grantee
The person to whom an interest in real property is conveyed.
grantor
The person who conveys an interest in real estate by deed (the seller).