Aerospace Note - A note created to provide direct financing to an individual or business who has purchased an airplane.

Amortization - the gradual, systematic payment of a mortgage by installment payments of the principal and the accrued interest at stated periods for a definite amount of time.

Annuity - A contract sold by an insurance company that guarantees a fixed or variable payment to the holder at some future date, usually at retirement.

Automobile Notes - A note created to provide direct financing to an individual or business in purchasing a vehicle.

Balloon Payment - A large payment on a note usually due at the end of the payment schedule.

Business Note - A promissory note is created when a business owner agrees to carry back seller financing on a the sale of a business.

Business Vehicle Note - A note that is created when a seller offers direct financing to a company for the purchase of trucks, corporate vehicles, and limousines. 

Commercial Invoices - Account receivables are invoices that are created when a business has delivered goods and/or services to a business or government entity.

Commercial Leases - A contract between a landlord of a commercial building and a tenant to rent space.

Credit Card Debt  - A debt that a business created resulting from granting credit cards to consumers.

Deed of Trust - A security instrument that uses a third party, called a trustee, to foreclose in the event of default.

Due Diligence - The process of assessing the risk and authenticity of a deal through the gathering and verifying of information and documentation related to the deal.

Equipment Notes & Leases - A note that is created for direct financing to purchase or lease equipment.

Equity - The value or interest an owner has in real property over and above any mortgage debt or other liens against the property.

Escrow - The system by which money, documents, personal property, or real property are held in trust for others by a disinterested third party until the terms and conditions  of the escrow parties are completed or terminated.

Factoring - The selling of your commercial invoices to generate short term funds to meet existing obligations such as payroll.

Inheritances  - Individuals can receive immediate cash advances in exchange for a future distribution from probate or trust.

Judgment - A court decree stating the award, interest and other costs which a plaintiff can enforce against a defendant.

Land Contact - A form of real estate purchase in which the buyer makes installment payments toward the purchase of property and has use of the property but does not receive title to the property until it is paid in full.

Lien - A hold or claim against property as security for some debt or charge.

Marine Note - A note created when a seller provides direct financing to an individual or business to purchase a boat.

Market Price - The price that a piece of property would command on the open market.

Mobile Home Note - A note created when a seller provides direct financing to an individual who purchases a mobile home.

Mortgage - A pledge of real property for the security of a debt where a debtor maintains a right to the property.

Mortgage Note - A negotiable promissory note secured by a mortgage on specific real estate property. The legal evidence of a debt created by the sale of real property on credit and the written promise to pay the debt in a series of payments. Outlines the rate of interest and other terms associated with the debt and its repayment.

Mortgagee - The entity that lends money to purchase a real estate property, identified as the creditor and the holder of the mortgage note.

Mortgagor - The entity that possesses real property and is paying for that property under terms of a mortgage note to a mortgagee, with the property held as collateral for the mortgage.

Prepayment Penalty - A penalty for prepayment of a debt before it is due.

Purchase Order - An agreement between companies that a specific job is going to be done for a specific price.

Recreational Vehicle Note - A note is created when a seller directly finances the purchase of motor homes and campers.

Seasoned Note - A note that has had a number of payments on it.

Structured Settlement - Money awarded to a plaintiff that is paid over a period of time. This can range from a period of months to years.

Student Loans - These are debt instruments that financial institutions granted to students to finance their education.

Unseasoned Note - A note that has few or no payments on it.

Tax Certificates - A note created by the government to collect overdue property taxes and sold to investors.

Term - the period of duration of a note.

Terms - The main features of a loan: principal amount, interest rate, payment schedule and due date.

Time Value of Money - This is a concept that your money is worth more today than it is tomorrow. If you have a dollar in your pocket and hold on to it for five years, it will be worth less in the future than it is now. Waiting to collect monies over a period of time diminishes the value of your money. Yes, you would earn steady income over a period of time, but chances are the value of that cash you will receive, in future dollars, will be less in purchasing power when you compare what you can buy with it today.

Trustee - An entity holding title to a property in trust for the benefit of a lending institution as security for the repayment of bonds sold by the trustor in order to purchase the property.

Trustor - The purchasor of a property that is financed in whole or in part through a promissory note issued to a beneficiary, lending institution or seller.

Viatical Settlements - A procedure that a life insurance company advances on the maturity date of a policy on someone who has a terminal illness.

Worker's Compensation - Benefits paid to an individual from an insurance company for injuries sustained on the job.

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