Relocation

Relocation

Referring to any service that assists a family to move house or a business to move from one establishment to another.

Industry: Business services

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Relocation

note

Business services; Relocation

A written instrument that acknowledges a debt and provides a promise of repayment.

non-recurring carrying costs

Business services; Relocation

Typically, charges associated with an inventory property, which are generally one time in nature. Examples include repairs, capital improvements, mortgage assumption fees, and assessments.

non-conforming loan

Business services; Relocation

Loans that do not comply with Fannie Mae or Freddie Mac guidelines. This includes Jumbo and Sub-Prime loans.

net equity

Business services; Relocation

The amount of eligible (funds), if any, due from the purchase price of the transferee’s property after all charges and prorations are satisfied.

negative equity

Business services; Relocation

Funds that are required to be paid by the seller when the amount by which charges and prorations exceed the purchase price plus credits.

negative amortization

Business services; Relocation

An increase in the principal balance of a loan which occurs when the monthly payments do not cover all of the interest costs. The interest costs, which are not covered by the monthly payment, are ...