Definition
Equity
The difference between a property’s market value and the total debt secured by it.
Nearby terms
Encroachment
A structure or improvement that intrudes onto a neighbouring property or across a setback line.
Encumbrance
Any claim, lien, easement or restriction affecting title to a property.
Escrow
Two distinct meanings: the neutral third party holding funds and documents during a transaction, and the ongoing account a servicer uses to pay taxes and insurance.
Escrow Waiver
An arrangement in which the borrower pays taxes and insurance directly rather than through a lender-held account.
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