Monthly Archives: October 2010

Make A Note To Change Your Clocks-November 7th

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Real Estate Education

Grace Period  What Does Grace Period Mean? A provision in most loan and Insurance contracts which allows payment to be received for a certain period of time after the actual due date. During this period no late fees will be charged, and the late payment … Continue reading

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Real Estate Education

Recording Fee  What Does Recording Fee Mean? The fee a government charges for reporting a real estate purchase or sale into the public record. The Deed is a document that is made public record. The fee charged to the Buyer … Continue reading

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Real Estate Education

Prepayment Penalty  What Does Prepayment Penalty Mean? A clause in a mortgage contract that says if the mortgage is prepaid within a certain time period, a penalty will be assessed. The penalty is usually based on percentage of the remaining … Continue reading

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