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Term Definition
Title SearchA check of public record to disclose the past and current facts regarding ownership of a particular piece of property.
 
Transfer TaxIn some areas city, county or state taxes imposed when property passes from one person to another.
 
Truth-In-LendingFederal law that requires lenders to disclose the terms and conditions of a mortgage, including the APR, based on certain charges incurred by the borrower. If the charges were $0, the APR would be equal to that actual interest rate on the loan.
 
UnderwritingThe process of evaluating a loan application to determine the risk involved for the lender.
 


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