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Sale and Leaseback: This arrangement occurs when a property owner sells a property to a buyer but then the seller leases the property from the one who bought it from them.
Satisfaction: This occurs when a debt or lien is satisfied or when a financial obligation is met and satisfied.
Small Business Association (SBA): The U.S. Small Business Association offers loans issued through banks and lenders that are SBA guaranteed and benefit small businesses.
Seasoning: This is the length of time that payments have been made on a debt.
Secondary Market: This is a marketplace where businesses and companies buy and sell income streams, cash flows and debt instruments.
Second Mortgage: A mortgage that is second to the first and is subordinate to the first mortgage.
Security: Collaterals and other assets are used as security to secure financing and funding.
Securitization: Companies or parties authorized by the Securities and Exchange Commission (SEC) to buy and sell bundled securities.
Security Interest: An interest in a property or other asset, not real estate, which can be used to securitize another debt.
Seller: The party who currently holds and is selling a property, income stream or debt instrument.
Seller Financed: A seller who will accept a not and collect payments from the buyer without using a third party funding source.
Seller Take-Back: A form of seller financing for a property.
Servicing: The collecting of payments and other activities including paying taxes and insurance required to service a loan.
Settlement: Settlement meetings are where the sale of a property is finalized. This is the same as the closing.
Settlement Sheet: The calculation of costs that determines the sellers net proceeds and the buyers net payment.
Shareholder: One who owns shares of stock and therefore interest in a corporation.
Sole Proprietor: A business that is owned solely by one person. The businesses income and expenses are considered the individuals and taxes are filed accordingly.
Special Conditions: These are just conditions and covenants that are part of a transaction agreement or contract.
Spread: The spread is the difference between the cost of funds and the current lending rate.
Start Date: This is the date contract and it’s terms and conditions are in effect.
Structured Settlement: This is a lawsuit settlement with terms of repayment and specific payments being made over a specified period of time.
Subordination: An agreement in the case of 2 or more mortgages or liens an on a property that one or others are made subordinate or inferior to other liens or mortgages.
Survey: A survey takes the measurements of a certain parcel, lot or property.
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