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131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

This can lead to a short sale, foreclosure auction, and/or the lender taking possession of the property. Freddie Mac is the common name for the Federal Home Loan Mortgage Corporation, or FHLMC. Loan officer. Loans can also be secured by cars and other high-value items. Short sale. Foreclosure.