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Today's Real Estate Definitions



MARKET VALUE - The highest price a willing buyer would pay and a willing seller accept, both being fully informed, and the property exposed for a reasonable period of time.
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MORTGAGE INSURANCE PREMIUM (MIP) - The amount paid for FHA mortgage insurance. When paid to a private company, it is commonly referred to as Private Mortgage Insurance (PMI).

Today's Quote

In the End, we will remember not the words of our enemies, but the silence of our friends.- Martin Luther King Jr. (1929-1968)

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