- ServicerA firm that performs servicing functions, including collecting mortgage payments, paying the borrower’s taxes and insurance and generally(...) Read More
- ServicingThe tasks a lender performs to protect the mortgage investment, including the collection of mortgage payments, escrow administration, and(...) Read More
- Setback ThermostatA programmable thermostat that can be set to different temperatures at specified times of the day or week. Read More
- SetbacksThe specific distance a building is required to be placed from a street, alleyway, or sidewalk; setbacks differ based on zoning district. Read More
- SettlementThe conclusion of a real estate transaction. It includes the delivery of the security instrument, signing of legal documents and the(...) Read More
- Settlement CostsExpenses realted to services that must be performed to process and close a loan application. Examples include title fees, recording fees,(...) Read More
- Settlement StatementA document that lists all closing costs on a consumer mortgage transaction. Read More
- Sewage EjectorA pump used to ‘lift’ waste water to a gravity sanitary sewer line. Usually used in basements and other locations which are situated below the(...) Read More
- Sewer LateralThe portion of the sanitary sewer which connects the interior waste water lines to the main sewer lines. The side sewer is usually buried in(...) Read More
- Sewer StubThe junction at the municipal sewer system where the home's sewer line is connected. Read More
- Sewer TapThe physical connection point where the home's sewer line connects to the main municipal sewer line. Read More
- ShakeA wood roofing material, normally cedar or redwood. Produced by splitting a block of the wood along the grain line. Modern shakes are sometimes(...) Read More
- Shaker StyleA traditional furniture style with minimalist designs that feature tapered legs and clean lines. Read More
- Shear BlockPlywood that is face nailed to short (2 X 4's or 2 X 6's) wall studs (above a door or window, for example). This is done to prevent the wall(...) Read More
- SheathingThe protective covering of the building's framing structure exterior. Read More
- Shed RoofA roof containing only one sloping plane. Read More
- Sheet goodsPlywood and similar materials manufactured as panels. Read More
- Sheet Metal WorkAll components of a house employing sheet metal, such as flashing, gutters, and downspouts. Read More
- Sheet RockDrywall-Wall board or gypsum Read More
- ShimA small piece of scrap lumber or shingle, usually wedge shaped, which when forced behind a furring strip or framing member forces it into(...) Read More
- ShinglesFlat, rectangular tiles composed of asphalt, wood, or slate that are layered and protect the roof from natural elements. Read More
- Shoe moldingMolding along the point where the baseboard meets the floor. Read More
- Short CircuitA situation that occurs when hot and neutral wires come in contact with each other. Fuses and circuit breakers protect against fire that could(...) Read More
- Short SaleThe sale of a real estate property for which the lender is willing to accept less than mortgage balance, typically when the home value is less(...) Read More
- Short Term Rentala property that is being rented out in small increments rather than a long term lease with a steady tenant. This includes vacation rental(...) Read More
- Shower PanA waterproof insert that is installed on the floor of the shower to prevent water leakage from occurring. Read More
- ShutterUsually lightweight louvered decorative frames in the form of doors located on the sides of a window. Some shutters are made to close over the(...) Read More
- Side SewerThe portion of the sanitary sewer which connects the interior waste water lines to the main sewer lines. The side sewer is usually buried in(...) Read More
- SidingSiding, or wall cladding, is material installed on the exterior of the house to protect against exposure to the elements. Read More
- Sill(1) The 2 X 4 or 2 X 6 wood plate framing member that lays flat against and bolted to the foundation wall (with anchor bolts) and upon which the(...) Read More
- Sill CockAn exterior water faucet (hose bib). Read More
- Sill PlateThe horizontal members on the subfloor upon which the vertical studs are installed. Read More
- Sill SealFiberglass or foam insulation installed between the foundation wall and sill (wood) plate. Designed to seal any cracks or gaps. Read More
- Simple InterestThe interest calculated on a principal sum, not compounded on earned interest. Read More
- Simultaneous Issue RateA discounted rate afforded to a lender when title insurance is simultaneously issued to both owner and lender. Read More
- Single Family HomeA single-family home is a free-standing residential building. It is not attached to any other dwelling structure. Also, a residential property(...) Read More
- Single Family RentalsSingle Family Rentals are free-standing homes that are used as an investment property to generate passive income. Read More
- Single GlazingUse of single panes of glass in a window. An alternative to double glazing but not as energy-efficient. Read More
- Single-Hung WindowA window with a bottom, operable sash and a top, secured sash. Read More
- Single TaxationThe process in which a company that does not pay a corporate income tax passes all of its earnings to its owners. The owners then pay taxes on(...) Read More
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