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Details Title: Florida Real Estate Description: Chapter 14 Total Flash Cards: 7 Created: 06/04/2005 08:10:41	To study from this set of flash cards, or to create your own your own study flash cards, register HERE. If you are already a registered user, CLICK HERE.
Cards Term arrears Definition the state of been behind in the discharge of an obligation or paid at the end of the period for which due the opposite of an advance Term credit Definition as a verb to make an entry on the right or credit side of an account as a noun payment or value received Term debit Definition as a verb to make an entry on the left or charge side of an account as a noun a charge or expense Term level payment plan Definition a method for amortizing a mortgage whereby the borrower pays the same amounts each month Term principal Definition the party employing the services of a real estate broker or the amount of money borrowed in a mortgage loan excluding interest and other charges Term profit Definition the amount one makes over and above one's costs Term prorate Definition to divide or excess proportionate shares of charges and credits between the buyer and seller according to their individual period of ownership