A legal proceeding for the collection of real estate mortgages and other types of liens on real estate, which results in cutting off the right to redeem the mortgaged property and usually involves a judicial sale of the property to pay the mortgage debt.

A real estate transaction where the seller of the property is selling without retaining a real estate broker.

Land subject to floodwaters because of its topography and proximity to a river or arroyo; especially land adjacent to a river that, when inundated,exceeds the channel’s capacity.

Purchase of a residential property with the intent to sell quickly at a higher price, warranted because labor or capital was invested to increase the market value of the property.

Lease where the lessee pays a fixed rent for the duration of the lease.

Costs that do not change with a building’s occupancy rate including property taxes, insurance, and some forms of building maintenance.

A mortgage having priority as a lien over any other mortgage or lien on the same property.

Occurs when a buyer gets monies from a seller or third party to purchase a property that is paid back over a specified period of time.

The highest degree of ownership which a person can have in real estate. An interest in real estate which gives the owner unqualified ownership and full power of disposition.

Established in 1977 with the primary responsibility of ensuring the nations consumers adequate energy supplies at just and reasonable rates and providing regulatory incentives for increased productivity, efficiency, and competition.