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Impound, or Reserves	The portion of a borrower's monthly payments held by the lender to pay for taxes, hazard and mortgage insurance, lease payments, and other items that will come due
Income approach	The method of estimating the value of a property by calculating its generated income
Income property	Real estate developed for the purpose of generating income
Indemnify	To provide for compensation in the case of loss or damage to property
Indemnity	The statement of terms under which loss or damage to property will be compensated
Index	A published interest rate used by lenders to compare the interest rate for an adjustable-rate mortgage (ARM) with that earned by other investments (e.g., the yield on Treasury bills, interest rate on loans from savings and loans institution, etc.), as a result of which the ARM interest rate is adjusted
Ingress	The right to enter on or over a piece of property
Insurable Title	A property title which an insurance company is willing to insure against possible claim
Installment contract, or Contract for deed	A contract for the sale of real estate whereby the buyer is in possession of the property while paying off the purchase price in periodic installments, despite the title being retained by the seller until the future date of final payment
Insured closing letter	An indemnity provided by a title insurance company to a lender, whereby the title insurance company assumes responsibility in the case that the closing agent does not fulfill the terms of the loan, or misappropriates the loan proceeds
Insured mortgage	A mortgage that is protected by the Federal Housing Administration (FHA) or by private mortgage insurance (MI) so that if the borrower defaults on the loan, the insurer compensates the lender the lesser of the loss incurred or the actual insured amount
Interest rate buydown plan	An arrangement made for the initial years of a mortgage whereby the seller (or any other party) deposits money into an account that is then released toward the monthly payments on the mortgage, thereby bringing the mortgagor's interest rate down below the actual interest rate
Interest rate ceiling	The maximum interest rate for an adjustable-rate mortgage (ARM), as specified in the mortgage note
Interest rate floor	The minimum interest rate for an adjustable-rate mortgage (ARM), as specified in the mortgage note
Interim financing	A temporary or short-term loan, often made during the construction phase of a building project, and usually replaced by a permanent long-term mortgage
In testate	The condition of dying without leaving a will. The description of an estate without a will
Involuntary lien	A claim or charge against property placed without the consent of the property's owner

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

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John Beshk, Designated Broker The Beshk Group, Inc. 1409 W. Crystal Spring Dr. Gilbert, AZ 85233 Chandler Branch 908 W. Chandler Blvd., Suite 2, Bldg D. Chandler, AZ 85225 Mesa Branch 1355 N. Greenfield Rd. Mesa, AZ 85205 Office: 480-214-5347 Direct: 602-309-8888 Fax: 480-926-7308 Email: John@TheBeshkGroup.com John Beshk has been assisting Arizona home buyers and sellers with their real estate needs since 1992 and has helped hundreds of individuals and families realize their dream of home ownership. Every buyer and seller has different wants and needs, which makes finding an experienced professional like John and The Beshk Group, Inc. a necessity. John and his team of professionals can provide you with the individualized attention and service you deserve. John is certified by the Arizona Department of Real Estate and Maricopa Community Colleges to provide pre-licensing, appraisal and continuing education instruction for real estate agents and college students. All of his courses are open to the public and available at Mesa Community College. John earned his Bachelor of Science in Finance from DePaul University and Master of Business Administration from the University of Phoenix. John has resided in the East Valley since 1986 and currently lives in Gilbert with his wife, Mickie. John is the Designated Broker for The Beshk Group, Inc. a family owned and operated real estate firm that prides itself on creating and maintaining sound relationships with its past, present and future clients. You can contact John by telephone, email, request information through his website or by appointment at his Gilbert, Chandler or Mesa offices.   www.TheBeshkGroup.com is brought to you by The Beshk Group, Inc. NUMBER1EXPERT™ in real estate for Gilbert, Chandler and Mesa, Arizona Read John Beshk's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

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