Debt Consolidation Glossary of Terms

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Glossary - S

seller carry back
A form of financing in which the seller of a property accepts a down payment and agrees to accept payments until the property is paid for.

subordinate loan
A mortgage whose priority is below that of another mortgage; i.e., a second or third mortgage or a home-equity loan.

survey
A precise measurement of a parcel's dimensions, relation to landmarks and location and dimensions of improvements.