chicago real estate 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
Negative Amortization:
An increase in the balance of a loan caused by adding unpaid interest to the loan balance; this occurs when the payment does not cover the interest due.
Net Monthly Income:
Your take-home pay after taxes. It is the amount of money that you actually receive in your paycheck.
Net Worth:
The value of a company or individual's assets, including cash, less total liabilities.
Nonliquid Asset:
An asset that cannot easily be converted into cash.
Note:
A written promise to pay a specified amount under the agreed upon conditions.
Note Rate:
The interest rate stated on a mortgage note, or other loan agreement.
Prepared by and used with the permission of the FTC.
