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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

 

Earnest Money
A sum of money given to bind a sale of real estate; a deposit.

 

Equity
The home owner's interest in a property; the difference between fair market value and the current amount the owner owes on the property.

 

Escrow Account
An amount set up by the lender into which the borrower makes periodic payments, usually monthly, for taxes, hazard insurance, assessments, and mortgage insurance premiums. The funds are held in trust by the lender who pays the sums as they become due.

 

Executor

The individual named in a will charged with carrying out the provisions specified in the will. A co-executor serves as executor along with one or more designated individuals.

 
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