Albuquerque Real Estate
In March 2024, a significant development occurred in the real estate industry involving the National Association of Realtors (NAR) and several major real estate brokerages. A landmark $418 million settlement was reached with NAR to resolve claims in four antitrust class actions. These class actions challenged the rules requiring home sellers to pay buyer broker […]
Amortization Schedule – The gradual repayment of a mortgage loan by installments. This document you will see at closing, and it’s about 4 pages of numbers. Each line item will show you the total payment and how much is allocated to cover interest, taxes, insurance and the principal amount of the loan. These numbers will […]
A mortgage that permits the lender to adjust its interest rate periodically on the basis of changes in a specified index. *This is excerpted from the glossary included on the National Association of REALTORS® (NAR) website. Real estate brokerage is truly dependent on the “lingo,” and this is only a partial list. Go to […]
Acceleration clause A provision in a mortgage that gives the lender the right to demand payment of the entire principal balance if a monthly payment is missed. Be knowledgeable about Home Ownership! It’s important! This is excerpted from the glossary included on the National Association of REALTORS® (NAR) website. For more information about real […]
During a special legislative session on November 25, $330 million in CARES Act Coronavirus Relief Fund funding was allocated to address the impact of the COVID-19 crisis in New Mexico. Included in the funding was $15 million for housing cost assistance, which will be administered by MFA. This amount is in addition to the $12.3 […]
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