Apartments for sale in Majorca

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trading down
Buying the home which is less expensive than a one's current house.

graduated-payment mortgage
A mortgage which requires the borrower to make larger monthly payments over a term of a loan. a payment is unusually low for a first few years but gradually rises until year three or five, then remains fixed.

wraparound mortgage
A loan given to the buyer for a remaining balance on the seller's first mortgage and an additional amount requested by a seller. Payments on both amounts may be made to a lender who holds a wraparound loan.

alkali
Mineral salt found in soil.


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