Glossary of Terms - N
National Association of REALTORS®:
The National Association of REALTORS® is a non-profit trade association that is comprised of licensed real estate professionals and related professionals in the real estate industry. Only members of this association can advertise themselves as REALTORS®.
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.
The value of a company or individual’s assets, including cash, less total liabilities.
An asset that cannot easily be converted into cash.
One who is authorized by the state or federal government to administer oaths and to attest to the authenticity of signatures.
A written promise to pay a specified amount under the agreed upon conditions.
The interest rate stated on a mortgage note, or other loan agreement.