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A deed in which the grantor warrants title
against all claims, offering the greatest guarantee of protection of any type
of deed, and which is used in most real estate deed transfers of
title
Ginnie Mae
The Government National Mortgage Association
(GNMA), a United States corporation that guarantees privately issued securities
backed by pools of mortgages insured by the Federal Housing Administration, the
Farmers Home Administration, or the Veterans Administration
Graduated-payment mortgage
(GPM)
A flexible-payment mortgage with monthly
principal and interest payments that increase by a certain percentage each year
for a certain number of years, and then level off for the remainder of the
term
Grantee
The person who, by written document, receives
title or an interest in real property from a grantor
Grantor
The person who, by written document, transfers
title to or an interest in real property to a grantee
Gross Lease
The most common of residential leases, whereby
the landlord pays for all property expenses incurred through ownership, such as
taxes, insurance, repairs, etc.
Ground Lease
A long-term lease of land (usually 99 years)
that allows the lessee to build and use the land as agreed in the lease, at the
end of which, the land and any improvements revert to the owner
Ground rent
The payment made for the use of land when the
title to the property is of a leasehold estate, rather than as a fee simple
estate
Growing-equity mortgage
(GEM)
A fixed-rate loan for which the monthly payments
increase over a designated period of time, with the increased amount of the
monthly payment being applied directly to the principal balance, thereby
shortening the term of the loan
Guarantee mortgage, or Insured
mortgage
A mortgage that is guaranteed against default by
a third party (such as the FHA), and for which the borrower must pay an
insurance premium
Guardian
An individual designated by the Court to protect
and preserve the property of someone who is not able to manage his or her own
affairs See "Conservator"
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Steve Scheuring Baird & Warner 1037 Chicago Ave. Oak Park IL 60302 Office: 708-697-5946 Fax: 708-383-0790 Steve@OPRFHouse.com
My clients choose me because I am committed to serving their needs. My actions are timely. My advice is objective. My assistance is un-intimidating. My service is complete. My drive is your success.
It is a well-known fact that I utilize more technology-based marketing tools than any other area agent or firm! Digital photography, website advertising, and 24-hour availability are key elements to getting a home sold in today’s market. When you begin your search to buy a home or prepare to list a home, it makes sense to have somebody help you that knows homes. My wife Julie and I have fully restored two homes. Our first was a Chicago Bungalow on the North Side; in 2000 we complete and sold our English Cottage on the 900 block of Marion in Oak Park. These homes were not quick rehabs to make money. They were our homes filled with hard work (more than 50% of the labor was our own), fun memories, and quality finishing. We have recently embarked on a restoration that will (hopefully) be our last. We purchased a Victorian at 320 N. Euclid and estimate a restoration process of more than seven years. Taking care of my customers’ needs is job #1 and leads to long workweeks. This is all I do, everyday, seven days a week. Let me help you learn what to do and what NOT to do in order to get your home sold. If you are buying a home, your job is just as rigorous. I can help you with everything from home inspectors to mortgage brokers. Selling or buying… I help you with every detail to get you to that closing date.
www.OPRFHouse.com is
brought to you by Steve Scheuring NUMBER1EXPERT™ in real estate
for Oak Park and River Forest, Illinois, Vintagevictorians,
Colonials
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