The delivery of a deed, financial adjustments, the signing of a note, and the disbursement of the funds necessary to consummate, or close, the sale or loan transaction.

The difference between how much your property is worth and how much you still owe on your mortgage

The failure to make payments on a timely basis or in accordance with the terms of your promissory note.

This document shows that an owner of a piece of real property has title to that property.

An interest rate that never changes over the life of a loan.

This is your total income before any deductions such as taxes, 401(k) contributions, Medicare, or Social Security contributions.

The original amount of a loan, excluding interest.

A written agreement from a mortgage lender to grant a loan for a home purchase.

Also known as a second mortgage, is a closed-ended, secured loan with your home used as collateral.

A document a potential tenant fills out so a landlord can decide if they're qualified to rent the apartment.

A certificate that verifies the spaces available for rent have been inspected, approved for occupancy and deemed as a quality place to live.

The formal process where your landlord terminates your lease and asks you to vacate your apartment in a period of time decided by local laws and statutes.

A public record of how you've managed your credit and debt in your past, including credit cards, loans and other leases.

Areas of the apartment complex — such as the gym, laundry rooms, clubhouse and outdoor spaces

The owner of your property, or an agent of the owner, who leases out the apartment.

A residential tenancy agreement, a contract between you (and your co-tenants) and the landlord or owner.