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Fee simple
The maximum form of property ownership, giving the owner the right to use the property in any manner they see fit, in accordance with state and local laws.
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Firm commitment
A lenderís agreement to loan money to a specific borrower for a specific property.
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First mortgage
A mortgage that is the primary lien against a property and which has priority over all other voluntary liens.
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Fixed installment
The monthly payment due on home mortgage loan.
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Fixed-rate mortgage
Fixed-rate mortgage
A mortgage loan in which the interest rate does not change during the entire term of the loan.
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Forbearance
An action a lender may take of refraining from pursuing legal action against a delinquent borrower of a mortgage loan.
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