What is a mortgage?
AnswerA loan used to buy property, secured by that property
If a mortgage isn't repaid, the lender can claim the property.
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Estate facts & stats
7 fact-checked facts about real estate, property and homes, each with the reason behind it. 5 more are in today's round and join this page after it closes.
The basics
What does square footage measure?
AnswerFloor area
Square footage is the area of a home's floor space.
Going deeper
In a property sale, what is escrow?
AnswerA neutral third party holding funds or documents until conditions are met
Escrow protects both sides until the deal closes.
What does 'curb appeal' refer to?
AnswerHow attractive a property looks from the street
Tidy yards and entrances boost curb appeal.
What does HOA stand for?
AnswerHomeowners association
An HOA sets and enforces rules for a community of homes.
Expert level
What is 'fee simple' ownership?
AnswerThe most complete form of property ownership
Fee simple gives the owner full rights to use, sell or pass on the property.
The word 'mortgage' comes from Old French words meaning what?
AnswerDeath pledge
'Mort gage' meant death pledge: the pledge ends when the debt is paid or fails.
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