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 Mortgage glossary: Letter T
 
Temporary Buydown See Buydown.

Title Legal ownership in a property.

Title Exam/Title Search The process where public records are reviewed to research any previous liens on the property.

Title Insurance Protection for the lender, the seller, and/or the borrower against any defects or previous claims to the property being transferred or sold.

Two-Time Close Loan In a construction financing, when you first get a construction loan and then get another mortgage at the end of construction. You'll go to two different closings for a two-time close loan. See also One-Time Close Loan.


 
 
 
 


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