This combination Real Estate Glossary and Personal Finance Glossary provides definitions of commonly used real estate and personal finance terms. All definitions are listed below, arranged in alphabetical order.
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Maintenance Fee - The Maintenance Fee is the monthly or annual fee charged to condo, co-op, or townhouse owners, and paid to the homeowner's association, for the maintenance of common property. Also called an assessment.
Management Buyout - A Management Buyout is when the individuals running a company get together, borrow money, and buy most or all of its common shares.
Market Price - The Market Price of a bond is determined by traders who buy and sell bonds. On any given day, your bond will be worth more or less than the face value. That's because the bond market is continually active, with traders bidding up and down the value of bonds based on the current interest rate of the day. When interest rates rise, bonds are worth less (because it takes a smaller amount of capital to earn the same amount of interest). When interest rates fall, bonds are worth more (because it takes a greater amount of money to earn the same amount of interest.)
Market Sector - The term Market Sector refers to the categorizing of companies based on the industry in which they operate. Example sectors include technology and transportation.
Matured Bond - A Matured Bond is a bond that has been paid back in full, or is due for full payment.
Medicaid - Medicaid comprises state public assistance programs to persons who are unable to pay for health care. Title XIX of the federal Social Security Act provides matching federal funds for financing state Medicaid programs.
Medicare - Medicare is a program of Hospital Insurance (Part A) and Supplementary Medical Insurance (Part B) protection provided under the Social Security Act.
Medicare Supplemental Insurance (Medigap or MedSup) - Medicare Supplemental Insurance (Medigap or MedSup) is a term used in reference to private insurance products that supplement Medicare insurance benefits.
Merger - A Merger is when two companies voluntarily join together. Sometimes mergers are really takeovers, where one company ends up becoming the dominant presence.
Mortgage - A Mortgage is a document granting a lien on a home in exchange for financing granted by a lender. The mortgage is the means by which the lender secures the loan and has the ability to foreclose on the home.
Mortgage Banker - A Mortgage Banker is a company or a corporation, like a bank, that lends its own funds to borrowers in addition to bringing together lenders and borrowers. A mortgage banker may also service the loan (i.e., collect the monthly payments).
Mortgage Broker - A Mortgage Broker is a company or individual that brings together lenders and borrowers and processes mortgage applications.
Mortgagee - Mortgagee is a legal term for the lender.
Mortgagor - Mortgagor is a legal term for the borrower.
Multiple Listing Service (MLS) - A Multiple Listing Service (MLS) is a computerized listing of all properties offered for sale by member brokers. Buyers may only gain access to the MLS by working with a member broker.
Municipal Bond - A Municipal Bond is a bond offered by a local municipality. Munis, as they are commonly known, are not taxed by the federal government.
