WAIVER - To voluntarily give up or surrender a right

WAREHOUSE - A building used to store merchandise and other materials or equipment

WAREHOUSING - A term used in financing to describe the process which loan correspondents employ, assembling into one package a number of mortgage loans which the correspondent has originated and selling them in the secondary mortgage market

WARRANTY - A guaranty by the seller, covering the title as well as the physical condition of the property

WARRANTY DEED - A deed in which the grantor fully warrants good clear title to the premises. Also called a general warranty deed

WASTE - An improper use or abuse of property by one in possession of land, who holds less than the fee ownership, such as a tenant, life tenant, mortgagor, or vendee

WEAR AND TEAR - The gradual physical deterioration of property, resulting from use, passage of time and weather. Only property subject to wear and tear is depreciable

WRAP-AROUND MORTGAGE - A method of refinancing in which the new mortgage is placed in a secondary or subordinate position. In essence, it is an additional mortgage in which another lender refinances a borrower by lending an amount over the existing first mortgage amount, without cashing out or distributing the existence of the first mortgage.

Michael & Cindy Morris
Coldwell Banker Residential Real Estate LLC.
Cindy: (727) 480-8247
Michael: (727) 251-7447
FAX (727) 397-5978

Contact Us!
michael@michaelkmorris.com

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Coldwell Banker Residential Real Estate LLC.
1988 Gulf to Bay Blvd.
Clearwater, FL 33765