Dictionary

Lot And Block

Definition:    a type of legal description of land Pronunciation:   Used in a Sentence:   The new subdivision used a lot and block map for us to choose a home...

Loan-to-value Ratio (ltv)

Definition:   the relationship between the amount borrowed and either the appraised value or sale price (whichever is lower) of a property Pronunciation: Used in a Sentence:   The higher the LTV,...

Loan Servicing

Definition:   an additional source of income for lenders.  Servicing fees are based on the unpaid balance of loans serviced. Pronunciation: Used in a Sentence:   Loan payment collection and recordkeeping for...

Loan Origination Fee

Definition:  a charge by a lender for taking a mortgage in exchange for a loan Pronunciation:   \-ˌri-jə-ˈnā-shən\ Used in a Sentence:    The loan origination fee is indicated on the...

Littoral Rights

Definition: legal rights related to land abutting an ocean, sea or lake, usually extending to the high-water mark Pronunciation:    ˈli-tə-rəl; ˌli-tə-ˈral, -ˈräl\  \ˈrīt\ Used in a Sentence:    Since the land...

Litigation

Definition:   a lawsuit; the act of carrying on a lawsuit; a case before a court of law Pronunciation:  \ˌli-tə-ˈgā-shən\ Used in a Sentence:    The seller started litigation against the buyer...