Built on years of expertise Mortgage Money Machine Net includes: A Professional Loan Modification System. A powerful CRM framework to market directly to your clients, Complete Invoicing, Payables and Receivables System Provides easy, integrated, personalized and effective E-mailing, Develop efficient Lead Generation, Superior Prospecting, Exclusive One-Click-Multi-Task Scheduling, Internet Domains Manager, Print Checks and Drafts on blank paper Offers Bank Reconciliation Unlimited Cards Reconciliation Plus Agents'Timer Task-Punch-Clock An automatic "Lender's Benefit Analysis" form. that shows a lender all possible losses they might have if they don't agree to the Loan Modification process. We added a new "Limited Power of Attorney" form for your convenience. A Profit & Loss statement with selectable DTI (debt to income) ratio. A list of Lenders with Phones and Fax numbers. And still so much more If you like to download a trial please click here but it would be better if you first to see our video by clicking here TEMPLATES SYSTEM Allows you to create unlimited categories and then, unlimited letters via merging your customer data automatically and your companies data allowing you to e-mail, EFAX or print. You may also use the templates manager to create e-mails for marketing campaigns, letters, etc. It interacts with two databases at the same time so you can merge fields from those two databases in the same letter (Contacts and My Company). INTERNET STATUS REPORTING With one click create unique web pages that reports your client's progress-work status to you web server. You do not need to install anything in your web server; nothing, zero, nada, zip --- simply click a button and all pages from active clients will be created. Then click another button to send access links to your clients. Additionally, report the case status by e-mail if you wish. Use it for your other businesses too. INTEGRATED INVOICE - PRODUCTS - INVENTORY SYSTEM It is now a breeze to assign contacts to invoices and populate the fields in one click. Select products and populate products fields with one click too. Also create service invoices with ease. Additionally you can interact with your invoices in many areas of the program. Do difficult queries with ease and then filter contacts that match the invoice query for Marketing purposes. For example, you can select invoices where you sold a product to clients four month ago and older but not within the last 4 months and then select contacts that match this criteria to send a series of emails (automatically) with an special offer. Charge Cards directly from the Invoice System. E-MAIL SYSTEM We offer a completely integrated E-mail System that replaces Outlook with many advantages. See all e-mails Sent, Received and linked from a Customer with just one click in one place. You can Apply Rules and automate processes such as Anti spam Rules and Deletion of e-mails in server based on rules. Attach Private Notes to E-mails. Edit E-mails received in the actual message. Change the status of e-mails one by one or in batches. Add a contact to the database with one click. Link E-mail to contacts. Classify E-mails in groups (one or many groups). See E-mail headers with one click. Find e-mail through an integrated Search System. Combine E-mails. Create Account Defaults for Signature, Subject, Group and Attachments. Powerful Rules Manager helps in many ways. Form Parsing allows adding contacts and populating fields automatically. Also interacts with our own Automessenger system (like an Autoresponder on steroids) AUTOMESSENGER SYSTEM This section is like an autoresponder on steroids, it e-mails sequences of templates with automatic personalization. A special feature is the ability to assign unlimited AutoMessenger to contacts with its own specific schedules. TEMPLATES SYSTEM INVOICE SYSTEM E-MAIL SYSTEM AUTOMESSENGER SYSTEM FOLLOW-UP SYSTEM MARKETING TRACKING SYSTEM F.A.Q. & SUPPORT SYSTEM KNOWLEDGE DATABASE ONE-CLICK MULTI-TASK SCHEDULER AUTOMATIC REPORTING OF CLIENT HISTORY TO SALES FORCE INTERNET FORMS FILLER FREE FORMS SYSTEM GATEWAY INTERACTION SYSTEM GATEWAY INTERACTION SYSTEM PARSING SYSTEM VOICE RECORDING & PLAYBACK PERSONAL AGENDA PERSONAL PHONEBOOK SCRIPT TELEMARKETING SYSTEM CUSTOMER EVALUATION SYSTEM RECEIVABLES SYSTEM PAYABLES SYSTEM CHECK WRITING IN BLANK PAPER CHEKC DRAFT WRITING BANK ACCOUNTS RECONCILIATION CREDIT CARDS RECONCILIATION CONVERSIONS SYSTEM VIRTUAL FILE CABINET INTERNET BACKUP SYSTEM DOMAIN MANAGER SYSTEM REPORTS SECTION CONTACTS MANAGER IMPORT AND EXPORT TELEMARKETING SYSTEM Work your telemarketing efforts with ease. Select groups of clients to call and call them one by one. Record your clients conversations in the Script Screen and play script recorded messages for a consistent enthusiastic message over and over. With 20 specific programmable one click check marks allows you a fast and accurate evaluation of the contact status. Then you can analyze the data for selected contacts with one click. CUSTOMER VALUATION SYSTEM Know, at a glance the Value of your Customer. Assign your own evaluation criteria or use the default one provided. Select a group of Clients and see them perform against the average. Those that are not worth your valuable time and efforts can now be dealt with in a different manner, even deciding to let them go as clients. RECEIVABLES SYSTEM Control recurrent payments with ease. Charge cards directly from the Receivables System or create a Check Draft to pay for a receivables with just one click. You can created Recurrent Payments for any amount of time and any number. Additionally, it works automatically with the Invoice System, so a receivables will be created when an Invoice is for better control. Set it up and you'll always know what your client's owe you. PAYABLES SYSTEM Control recurrent commissions with ease. You can create Checks directly from the payables system to pay for payables. The Payables System interacts automatically with the Invoice System and assigns commission when the invoice is paid as appropriate. You can have unlimited levels of commissions. MY COMPANY MANAGER If you have more than one company you can use the My Company Manager to impersonate a different entity when doing invoices, etc. Allows multiple identities (referring to your clients) when dealing with various ors. CONTACTS SECTION The "Drivers Seat" has all options in plain sight. Find anything with ease... and we mean it. As opposed to other software that forces you to go through many steps just to perform the simplest of searches, our program takes a direct approach. First, you click on the FIND button (which is always in plain view, or use its shortcut: Control+4). Then, you type any word or combinations of words. The program will look in the Name, Company, Phone Numbers, E-mails, URL, Keywords, Products, Referrals and Related fields in one pass, presenting the results immediately. Most importantly, the order of words does not change the result (even spanning fields, where John Smith, with his occupation as "realtor", can be found using "John", "Smith John", or even "John Real"). Additionally, the program saves your latest keyword searches, so it is just a matter of selecting from a pull-down list and pressing enter to find something. For advanced searches, you can perform a Full Find, which can use Boolean logic if desired. The shortcut Control+4 is available in other sections of the program for a consistent, fast and zero-frustration experience. You can link unlimited documents to each client (Word files, Excel, Powerpoint, PDF, images, etc) Sixty One-Click-Groups are available. Also, use Memorize Groups for frequently used groups. On-The-Fly Groups makes complex selections a breeze. TO-DO Groups when you need to work on batches. Look for Maps based on your Customers address and save them in the program. Check for Duplicates with ease. Use specific Snippets in many fields of your Contact database for consistent entries. Even compare side-by-side contacts and move data from one to the other. Dial Phone Numbers with just one click (and see more than just numbers). Select E-mail Templates to send to a Customer with one click. Instant Filtering based on content. Navigate your database with ease, including sorting in Form View. Record Notes in your own Voice, and Playing them back. Validate Cards and Charge them from the Contact Screen Use Default Labels for your User Defined Fields and still be able to change them See your Contact Information in many ways in the same screen. ( see image sample in the right side of the screen) FOLLOW-UP SYSTEM Keep track of documents sent, due dates and more. Track not only documents, but many other items as well. Select all Follow-Ups of a particular Contact or see them all together. Check tracking numbers from UPS, PSPS, FedEx, DHL and much more. Color coded by status for easy viewing at a glance. MARKETING TRACKING SYSTEM Track Your Marketing Campaigns with ease. See, at a glance the status of your campaigns. Know if your campaigns are profitable or not. Assign Shortcuts to your Marketing Issues. MARKETING STRATEGIES MANAGER Enter unlimited Marketing Strategies under unlimited categories. Use this section to control and organize your marketing strategies under different categories like, Internet, Magazines, Networking. etc. F.A.Q. & SUPPORT SYSTEM Your own Customer Support System. Merge Contacts and Company fields for personalized support. Give customer support from voice recordings. Add unlimited Canned Answers under unlimited categories for fast reliable support. KNOWLEDGE DATABASE Use it for Company Manuals, Training Courses, Company Logos, etc. Add unlimited data plus running of related files (Word docs, Excel files, Pictures, etc) with one click. It will become your personal library. ONE-CLICK MULTI-TASK SCHEDULER A real combination of ingenuity and simplicity. The Contacts task scheduler allows you to assign contacts with unlimited tasks and their in-between-days schedules with one click or add different tasks one click at a time or manually as well. Once the first task is complete, the next one is rescheduled automatically. This powerful feature allows assigning of complete marketing strategies of diverse nature with one click. Also if you miss one task, the rest gets reschedule automatically. AUTOMATIC REPORTING OF CLIENT HISTORY TO SALES FORCE All e-mail templates sent, EFAXs or printed reports plus completed tasks are logged in the history tab automatically (plus you may add anything manually) then, is takes just a click to e-mail to some or all your sales force a special report with full histories of their clients. This can be extended to all levels (like manager, distributor, agent -> client etc..) INTERNET FORMS FILLER Fill in Internet forms from data in your Contacts database. Multiple uses and Unlimited capabilities. CHECKS AND DRAFT WRITING Don't buy checks anymore, print them in blank paper available anywhere. Use recurrent checks to pay your payroll. Create recurrent Check Draft to charge your customers every month for a installment plan for example. Maintain unlimited Bank Accounts and Card Account. Use the included reconciliation system to check the validity of your banks or card statements. It will tell you with words of any problems in your reconciliation. VIRTUAL CABINET Maintain all kinds of lists under control (Passwords, URL's, Keywords, Music files, Pictures, Documents, E-mails, etc). Free Forms also tracks unlimited User Defined Fields by means of its link capabilities. Its unique Action Buttons perform many functions in one. Every record of a Virtual Folder has an Action Button.. Action Buttons act differently based on the content in the field without further user intervention. For example: if the field content is an e-mail, clicking on the Action Button will open the integrated E-mail System; if the content is a URL, it will open your browser on that web page; if a phone number, it will try to dial the number through your TAPI system; if you precede a URL with the word GRAB then it will get that web page from the Internet and either save it on your hard drive or in your Windows clipboard for further use; if you precede your content with an equal sign (=), it will act as a calculator, ideal for quick checkbook balances; if you have a Word, Excel, PowerPoint or any other file, it will open your document in the correct application. Plus, if you have an MP3 or WAV, it will play directly; if you have an image file address, it will open; if you have a contact ID, it will jump to that contact. Finally, you can use it to perform direct searches in Google. A very worthy tool indeed. . . Search Google from previously selected keyword list. Use it as a slide show or Image Catalog Use one field for different purposes. Export Contacts that you do not use too often using Free Forms (allowing you to control unlimited unrelated databases). You can Record and Manage all your Phone conversations if desired. GATEWAY INTERACTION SYSTEM Charge your Customers Cards from the program. Use multiple merchant account gateways. A setup-free merchant account is provided. PARSING SYSTEM Extract Information (parse) from E-mails or any text. Use the Parsing System automatically in the E-mail System as part of its Rules Manager or manually in the Contacts section. Allows you to grab information and integrate it into your database without the traditional data input required.Professional Loan Modification Software, a complete Mortgage and Loan Modification company Business Solution Program including Debt Settlement / Negotiation Center and Loan Modification also has Financial and Marketing capabilities for mortgage brokers, realtors,best solution. VOICE RECORDING & PLAYBACK Allows you to record Messages and Phone Conversations. Play Messages merged on an actual Phone conversation (special electronics provided). Plays MP3 and other formats directly. PERSONAL AGENDA Keep your personal and business affairs separate. Do not mix your affairs with your client's. Find any word in the Personal Agenda with ease. Look for Groups of Messages. Use powerful recurrence events, even by the hour. View all your Personal Notes in one place if desired in spite of date. Update old TO-DO's with a click. Use powerful Action Buttons within the Agenda. Use Snippets to ease your work some more. PERSONAL PHONEBOOK Maintain your frequent or family numbers handy. Dial automatically with one click. Export from / to the Contact database with one click. Link Phonebooks records to Contacts in the main database. Make use of assignably Groups Buttons for speed. INTERNET BACKUP SYSTEM Backup your files to your domain server and do not pay for a backup server. DOMAIN MANAGER SYSTEM We include a fully integrated full-featured Domain Manager System. If you have more than one domain you need this to keep track of all the important information relating to your domains such as passwords, hosting account information, server panel and much more. REPORTS SECTION Many useful Reports are provided with an ingenious display for easy selections including three reports where you select the fields you want to display or print. IMPORT AND EXPORT Import and Export to different formats including excel. Very easy to import from other formats. CONVERSIONS SYSTEM For all your conversions needs, a complete system is included. OTHER FEATURES Yes, there is still so much more including E-mail Extraction Tool and the list goes on. If you have read this far isnt it time to download your own version to try out free and see how effectively and efficiently you can start building your own Repair business from scratch or increase its efficiency many times.... To Download a Trial - Click Here To See our Video Demos Click Here To view our manual Click Here To Speak to someone - Click Here Go Top

GLOSARY.

Abstract of Title -
A summary of the conveyances, transfers, and any other facts relied on as evidence of title, together with any other elements of record which may impair the title to real property.

Acceleration Clause -
A clause in trust deed or mortgage giving the lender the right to call all sums owing him to be immediately due and payable upon the happening of a certain stated event.

Acceptance -
A legal term referring to the acceptance of an offer. A buyer offers to buy and the seller accepts the offer.

Acknowledgment -
A formal declaration before a duly authorized officer by a person who has executed an instrument that such execution is his act and deed.

Ad Valorem -
"According to value." A method of imposing a tax on the ownership of real property.

Adverse Possession -
The open and notorious possession and occupancy under an evident claim or right, in denial or opposition to the title of another claimant.

Affidavit -
A statement or declaration reduced to writing and sworn to or affirmed before some officer who has authority to administer an oath or affirmation.

Affirmation -
A solemn declaration made under the penalties of perjury by a person who conscientiously declines taking an oath. This is equivalent to an oath.
Agency -
The relationship between an agent and principal. One who represents another from whom he has derived authority.

Agreement of Sale -
A written contract between seller and buyer in which they reach a meeting of minds on the terms and conditions of the sale.

Amortization -
The liquidation of a financial obligation on an installment basis; also recovery, over a period, of cost or value.

Appraisal -
An estimate of value of property resulting from an analysis of facts about the property. An opinion of value.

Appurtenance -
Something belonging to the land and transferred with it, such as buildings, fixtures, rights

Assemblage -
Putting together two or more lots to form a large parcel.
Assessed Value -
A value placed upon property by the tax assessor.

Assessment -
The valuation of property for the purpose of levying a tax, or the amount of the tax levied.

Assessor -
One appointed to assess property for taxation.

Assignment -
A transfer or making over to another of the whole of any property, real or personal, or of any estate or right therein. To assign - to transfer or make over to another.

Assumption of Mortgage -
When a grantee takes a title to real property and the deed
contains an assumption agreement, or grantee executes a separate assumption agreement, the grantee becomes the principal guarantor for unpaid portions of the note and is primarily liable for the amount of any deficiency judgment.

Attachment -
Seizure of property by court order, usually done to have it available in event a judgment is obtained in a pending suit.

Attorney-in-Fact -
One who is authorized to perform certain acts for another under a Power of Attorney; may be limited to a specific act or acts, or be general.

Balloon Payment -
Where the final installment payment on a note is greater than the
preceding installment payments and it pays the note in full, such final installment is termed a balloon payment.

Beneficiary -
(1) One entitled to the benefit of a trust; (2) One who receives profit from an estate, the title of which is vested in a trustee; (3) The lender on the security of a note and deed of trust.
Blanket Encumbrance A single mortgage or trust deed which covers more than one piece of real estate.

Bona Fide -
In good faith, without fraud or deceit; authentic; sincere.

Breach -
Violation of an obligation in a contract.

Capitalization -
In appraising it is a method of determining the value of property by interpreting the property's net income with a percentage which represents a reasonable return on invested capital.

Capitalization Rate -
The rate of interest which is considered a reasonable return on the investment. It is used in the process of determining value based upon net income.

Cash Flow -
Income generated by a property which is determined by subtracting vacancy allowances and collection costs, operating expenses and debt-servicing costs from the property's scheduled gross income.

Caveat Emptor -
"Let the buyer beware." The buyer must examine the goods or property and buy at his own risk.

Chain of Title -
A history of conveyances and encumbrances affecting the title from the time it passed from government ownership, or as far back as records are available.

Closing Statement -
The written statement provided by the escrow company to each of the parties to the loan transaction showing the amounts received and the amounts paid out for various items.

Cloud on Title -
Any conditions revealed by a title search which affect the title to property; usually relatively unimportant items but which cannot be removed without a quitclaim deed or court action.

Codes -
A systematic collection of laws in writing.

Collateral Security -
A separate obligation attached to another contract to guarantee
performance of the contract.

Collusion -
An illegal agreement between two or more persons to defraud another of his rights by the forms of law, or to obtain an object forbidden by law.

Color of Title -
That which appears to be good title but which is not title in fact

Commingling -
The broker's unauthorized and improper mixing of office funds, which are personal or business monies, with trust funds, which are client customer monies.

Commission -
A payment for the performance of specific duties in real estate; a percentage of the selling price of property, percentage of rentals, etc.

Compound Interest -
Interest paid on the original principal and on interest accrued from time it became due.

Condemnation -
The act of taking private property for public use by the sovereign powers; a declaration that a structure is unfit for use.

Conventional Loan -
A loan that's neither guaranteed nor insured by Federal
Housing Administration (FHA) or Veterans' Administration (VA).

Conveyance -
The transfer of title to land. Includes most instruments by which an interest in real estate is created, mortgaged, or assigned.

Convenants -
Agreements written into deeds and other instruments promising performance or non-performance of certain acts or stipulating certain uses or non-uses of the property.

Damages -
The indemnity recoverable by a person who has sustained an injury either in his person, property or relative rights, through the act or default of another.

Deed -
A written instrument which, when properly executed and delivered, conveys title to real property.

Deed in Lieu of Foreclosure -
A deed to real property accepted by a lender from a defaulting borrower to avoid the necessity of foreclosure proceedings by the lender.

Default -
Failure to fulfill a duty or promise or to discharge an obligation, or to perform any act in an instrument in writing, that has been agreed upon.

Deferred Maintenance -
Existing but unfulfilled requirements for repairs and rehabilitation.

Deficiency Judgment -
A judgment given when the security pledged for a loan does not
satisfy the debt upon its default.

Depreciation -
Loss of value in real property brought about by age, physical deterioration or functional or economic obsolescence.

Deterioration -
Reflecting the loss in value brought about by wear and tear, disintegration, use in service, and the actions of the elements.

Discount Fee -
Sometimes referred to as "points," a fee charged by the lender in order to obtain a higher earning than the interest stated in the mortgage note.

Documentary Transfer Tax -
A state enabling act allows cities and counties to adopt a
documentary transfer tax to apply on all transfers of real property located within their jurisdictions.

Duress -
Unlawful constraint exercised upon a person whereby he is forced to do some act against his will.

Easement -
Created by grant or agreement for a specific purpose, an easement is the right privilege or interest which one party has in the land of another. (Example: right of way.)

Economic Life -
The period over which a property will yield a return on the investment, over and above the economic or ground rent due the land.

Eminent Domain -
The right of the government to acquire private property for public use by condemnation. The owner must be compensated fully.

Encroachment -
Trespass; the building of a structure or construction of any improvements partly or wholly on the property of another.

Encumbrance -
Anything which affects or limits the fee simple title to property, such as mortgages, trust deeds, easements or restrictions of any kind which do not prevent alienation of the fee title by the owner. Liens are special encumbrances which make the property security for the debt.

Enforceable -
That which can be made to effective; to cause to take effect. An agreement or contract between persons in which one or other party can legally compel the performance of another or other parties.

Equity -
The interest or value which an owner has in real estate over and above the liens against it.

Escheat -
The reverting of property to the state in the absence of heirs or other claimants.

Escrow -
The deposit of instruments and funds with instructions to a third party to carry out the provisions of an agreement or contract; when everything is deposited to enable carrying out the instructions, it is called a complete or perfect escrow.

Estate -
The degree, quantity, nature and extent of interest which a person owns in real property.

Estoppel -
A legal theory under which a person is barred from asserting or denying a fact because of the person's previous acts or words.

Exchange -
A means of trading equities in two or more real properties, treated as a single transaction through a single escrow or as a deferred exchange through two or more escrows.

Exclusive Agency Listing -
A written instrument giving one agent the right for a specified
time to sell a property, but reserving the right of the owner to sell the property himself without payment of a commission to the agent.

Exclusive Right to Sell Listing -
A written agreement between an owner and an agent
giving the agent the right to collect a commission if the property is sold by anyone during the term of his agreement.

Execute -
To complete, to make, to perform, to do, to follow out. To execute a deed is to make a deed, including especially the signing, sealing, and delivery; to execute a contract is
o perform the contract, to follow it out to the end, to complete it.

Executed Contract -
A contract that is fully performed.

Execution of Contract -
To sign a contract.

Executory Contract -
A contract not yet fully performed.

Executor -
A person named in a will to carry out its provisions as to the disposition of the
estate of a deceased person.

Executor's Deed -
A legal deed to real property given by an executor of an estate.

Fee Simple -
The terms "fee" and "fee simple" are substantially
synonymous. The term "fee" is of old English derivation. "Fee simple absolute" is an estate in real property by which the owner has the greatest power over the title which it is
possible to have, being an absolute estate. In modern use, it expressly established the title of real property in the owner, without limitation or end. They may dispose of it by sale, or
trade or will, as he chooses.

FHA Loan -
A loan that is underwritten to the standards of the Federal Housing Administration, which grants approval of the loan and insures the lender against financial loss.

Fiduciary -
A person in a position of trust and confidence, as between principal and broker; broker as fiduciary owes certain loyalty which cannot be breached under rules of agency.
Fixtures - Appurtenances affixed to buildings or land, usually in such a way that they cannot be moved without damage to themselves or the property; plumbing, electrical fixtures, fences, trees, shrubbery, etc. Fixtures are real property.

FNMA (Fannie Mae) -
A private corporation dealing in the purchase of first or second mortgages, at discounts.

Foreclosure -
procedure whereby property pledged as security for a debt is sold to pay the
debt in event of default in payments or terms.

Forfeiture -
Loss of money or anything of value due to failure to perform, such as a deposit given to insure performance.

Fraud -
The intentional and successful employment of cunning, deception, collusion; or artifice used to cheat or deceive another person whereby that person acts upon it to the loss
of his property and to his legal injury.

Gift Deed -
A deed for which the consideration is love and affection and where there is no material consideration.

GI Loan -
Analyzed by - and approval granted by - Veterans' Administration. Also called VA loan. Only eligible veterans may apply. Veterans' Administration guarantees a portion
of the loan to the lender against loss.

Graduated Lease -
A type of long-term lease agreement which provides for a fixed rental fee during the initial period of the lease with increases and/or decreases in rental amount at
stated times during the balance of the contract term.

Grant Deed -
A technical legal term in a deed of conveyance bestowing an interest in real property on another. The words "convey" and "transfer" have the same effect.

Grantee -
The purchaser; the person to whom a grant is made.

Grantor -
Seller of property; one who signs a deed.

Gross Income -
Total income from property before any expenses are deducted.

Guarantee of Title -
The opinion of a title company backed by its assets as to the true condition of the title to a certain piece of land at a particular time, as shown by the public records in the recording office.

Homestead -
A home upon which the owner or owners have recorded a Declaration of Homestead, as provided by California statutes; protects home against judgments up to specified amounts.

Hypothecate -
To give a thing as security without the necessity of giving up possession of it. To mortgage real property.

Implied -
Not expressed in writing; presumed or inferred.

Income Property -
Property which produces income from residential or commercial rentals and profits attributable to real estate other than rent.

Incompetent -
One who is mentally incompetent, incapable; any person who, though not insane, is, by reason of old age, disease, weakness of mind, or any other cause, unable unassisted to properly manage and take care of himself or his property.

Injunction -
A writ or order issued under the seal of a court to restrain one or more parties to a suit or proceeding from doing an act which is deemed to be inequitable or unjust in regard to the rights of some other party or parties to the suit.

Installment Note -
A note which provides that payments of a certain sum or amount be paid on the dates specified in the instrument.

Instrument -
A legal document in writing to create, alter, modify or terminate a right.

Interest Rate -
The percentage of a sum of money charged for its use.

Investment -
Money put in property or other ventures with the expectation of making a profit, with sufficient security to return and protect the capital; not speculation.

Involuntary Conveyance -
Sheriff's deed; tax deed; an instrument against the will of the
owner.

Involuntary Lien -
A lien imposed against property without consent of owner. Examples: taxes, assessments, federal income tax liens, judgments, etc.

Joint Tenancy -
Joint ownership by two or more persons with right of survivorship.

Judgment -
Final decision, determination, decree or sentence of a court of law.

Land Contract -
An agreement for the purchase or sale of real property. (See agreement of sale, conditional sales contract.)

Lease -
A contract between the owner of real property, called the lessor, and anotherperson, called the lessee, covering conditions under which the lessee may occupy and use
the property.

Legal Description -
A written description by which property can be located definitely by reference to government surveys or approved recorded maps.

Leverage -
The use of a small amount of cash to control a large amount of property values.

Lien -
A charge or encumbrance upon property for the payment or discharge of a debt.

Life Estate -
An interest in real property, which is held for the duration of the life of some
certain person. It may be limited by the life of the person holding it or by the life of some
other person.

Liquidate -
Disposal of property or settlement of debts.

Liquidity -
The ability of property to be exchanged for cash.

Lis Pendens -
A notice recorded for the purpose of warning all persons that the title or right of possession of certain real property is in litigation. Gives constructive notice of such litigation.

Listing -
An employment contract between owner and broker authorizing broker to perform services involving the principal's property.

Loan Costs -
The actual expense for services rendered in obtaining a loan. Includes appraisal fees, attorney fees, survey fees, loan commissions. Usually itemized for the benefit of the borrower.

M.A.I. -
Designates a person who is a member of the American Institute of Real Estate Appraisers

Marketable Title -
Merchantable title; one free and clear of objectionable liens or encumbrances.

Market Price -
The price the property brings in a given market.

Market Value -
The price a willing buyer would pay and a willing seller would accept, both being fully informed and the property being exposed for sale for a reasonable time period.

Mechanic's Lien -
A lien created by statute for the purpose of securing priority of payment for the price or value of work performed and materials furnished in construction or repair of improvements to land, and which attaches to the land as well as the improvements.

Moratorium -
Temporary suspension, usually by statute, of the enforcement of liability for an obligation.

Mortgage -
An instrument by which property is hypothecated to secure the payment of a debt.

Mortgage Broker -
One who, for a fee, brings together a borrower and lender, and handles the necessary applications for the borrower to obtain a loan against real property by giving a mortgage or deed of trust as security.

Mortgagor -
One who borrows money on his property and gives a mortgage as security.