Real Estate Glossary

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S

Settlement
Another name for closing 

Special Forbearance
A loss mitigation option where the lender arranges a revised repayment plan for the borrower that may include a temporary reduction or suspension of monthly loan payments. 

Subordinate
To place in a rank of lesser importance or to make one claim secondary to another. 

Survey  
A property diagram that indicates legal boundaries, easements, encroachments, rights of way, improvement locations, etc. 

Sweat Equity
Using labor to build or improve a property as part of the down payment. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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