Properties For Sale in Dernancourt

planned community
A concept dating back to a 19th century which describes any town or neighborhood built with certain guidelines or goals in mind.

foreclosure
Legal process by which the lender ends a borrower's interest in the property after the loan is defaulted. a lender may sell a property and keep a proceeds for mortgage and legal costs, using excess proceeds to satisfy other liens or return to a borrower.

escrow
A neutral third party holds documents and money for the real estate transaction and ensures which all conditions of the sale may be met. Also refers to the special account which the lender uses to hold the borrower's monthly payments on property taxes and insurance.

acceleration clause
A provision which gives the lender a right to collect a balance of the loan if the borrower misses the payment.