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Fixed-Rate Mortgage
Fixed-Rate Mortgage is by definition a mortgage loan that has a fixed interest rate. The unchangeable interest rate is more favorable for the borrower. A fixed-rate mortgage has a longer-term between ten and 30 years.
Foreclosure
Foreclosure is a process of seizing property ownership from the borrower to the bank. A debtor that is unable to make monthly returns to the creditor loses the homeownership. Due to the debt, the bank has the legal right to confiscate the property and evict the owner.
Fixer-Upper
The fixer-upper is a property that requires maintenance work. Renovations can be minor or major. Fixer-upper property is usually listed at a price lower than the market value. An investor buys a property, invests money into remodeling, and sells for a profit.
Fix and Flip
The term Fix and Flip refer to a strategy of purchasing a property, increase the property value ny rehab it, and then selling for profit. An investor renovates the property to make it more appealing for the new buyers.