ocrealestate

A

B

C 

C.C.C.  California Civil Code

C.C.P.  California Code of Civil Procedure 

D

E

F

G

H

I

IRC:  Internal Revenue Code 

J

K

L

M

MLS: Multiple Listing Service available only to member Realtors

N

NAR:  National Association of Realtors.

Notice of Default (NOD):  The initial document (in non-judicial foreclosure) filed by a trustee which starts the foreclosure.

Notice of Trustee’s Sale (NTS):  A notice announcing the date, time, and place of the trustee’s auction.

Notice (Judgment) of Foreclosure Sale (NFS):  A court order signed by a Judge, directing that a “Notice of Sale” be published and that a referee (trustee) sell the property at public auction.

O

P

Pending Sales Index:  A seasonally adjusted index of pending sales for existing homes created by the NAR.  The index was started in 2001 and the average number of sales in that year has been given an index value of 100.  An index value of 90.5 would be below the 2001 level and an index value of 101.1 would be above it.  This index gives a measure of market volumn of sales in existing homes.

Q

R

Real Estate Owned (REO):  Real estate owned by the lender; the final result of the foreclosure process when the property does not sell at the trustee auction.

S 

Short Sale or Short Payoff:  The sale of a property for an amount which is less than the total debt on the property.

T

U

V

XYZ

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