mortgage where payments are fixed, but the interest rate moves in
to trends (it could change from month to month depending on market
If interest rates go up, a larger portion of your payment goes to the
if rates go down, more goes to cover the principal.
A person (or business) who sells particular type of product. In real estate a seller of real property.
Financing (Balance of Sale):
seller sometimes takes the mortgage at a rate lower than market rates.
Most of these arrangements are not renewable or transferable to the
Not valid or legally binding; having no force or effect.
law, a transaction or action which is voidable is valid, but may be
annulled by one of the parties to the transaction. A contract that is
voidable is one where the offended party may make a choice.