Iaao course 102 test - Study guides, Class notes & Summaries

The Economic Principle of Anticipation states that value is created by the expectation of benefits to be derived in the future. Chattel A mortgage on personal property. Balloon payment A payment on the balance due of a note at the end of the loan term that is in excess of the regular payment amounts. Usually found in a partially amoritized mortgage. Conventional mortgage A loan that is neither insured nor guaranteed by the federal government.

The Economic Principle of Anticipation states that value is created by the expectation of benefits to be derived in the future. Chattel A mortgage on personal property. Balloon payment A payment on the balance due of a note at the end of the loan term that is in excess of the regular payment amounts. Usually found in a partially amoritized mortgage.

Chattel A mortgage on personal property. Balloon payment A payment on the balance due of a note at the end of the loan term that is in excess of the regular payment amounts. Usually found in a partially amoritized mortgage. Conventional mortgage A loan that is neither insured nor guaranteed by the federal government. Contract rent The actual rent paid in accordance with terms of a lease. Minimum base rent The fixed portion of rent under the terms of a percentage lease.