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- Under-lay A layer of wood between the subfloor and the floor.
- Underwriting The process that lenders go through to evaluate
the risks posed by a particular borrower and to set appropriate conditions
for the loan.
- Undisclosed heir A person who claims the right to a piece of
property after the death of an owner without a will.
- Undisclosed spouse An unidentified marital partner who can
claim the right to a piece of property.
- Unrecorded deed An unrecorded deed transfers ownership from
one party to another without being officially recorded. The deed is legal,
recorded or not.
- U.S. Department. of Housing and Urban Development (HUD) A
federal agency that oversees the Federal Housing Administration and a
variety of housing and community development programs.
- Unsecured loan Any loan that is not backed by collateral.
- Upgrades Options than the standard carpeting, lighting,
finish carpentry and other amenities offered to all buyers in a new-home
project.
- Up-zoning The process in which a property is zoned from a
lower to a higher use.
- Urban sprawl The unplanned expansion of development over a
large area.
- Usury A reference to illegally excessive interest charged on
any loan.
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