A provision in a mortgage that gives the lender the right to demand immediate payment of the outstanding loan balance under certain circumstances. ACCESSORY BUILDING A supplement to any document that contains additional information pertinent to the subject.

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ADJUSTABLE-RATE MORTGAGE (ARM) A calculation used to determine an individual's likelihood of being able to meet the obligations of a mortgage for a particular property.

Takes into account the down payment, closing costs and on-going mortgage payments.

BX CABLE Generally, any professional who has met the local or state requirements, and passed the appropriate certification exam, and is capable of appraising any type of property.

CERTIFIED RESIDENTIAL APPRAISER A torturous process designed to induce cramping in a home buyer's hands by requiring signature on countless pieces of documentation that nobody has ever read.

So at the end of the term, the remaining balance comes due in a single large payment.

BALLOON PAYMENT When a person or business is unable to pay their debts and seeks protection of the state against creditors.COMMUNITY PROPERTY An abbreviated term used by appraisers to describe properties which are similar in size, condition, location and amenities to a subject property whose value is being determined.The Uniform Standards of Professional Appraisal Practice (USPAP) establish clear guidelines for determining a comparable property.APPRAISAL STANDARDS BOARD (ASB) An independent board of the APPRAISAL FOUNDATION, which writes, amends, and interprets USPAP.The ASB is composed of up to seven appraisers appointed by the Foundation's Board of Trustees.The ASB holds public meetings throughout the year to interpret and amend USPAP.