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The process of analyzing a borrower's capability
to honor repayment of a loan (evaluating his or her credit, assets, employment)
along with the value of the property being purchased, to help minimize the risk
involved for the party lending the purchase money
Unilateral contract
A one-sided contract in which only one party is
legally under obligation by the terms of the contract; one party promises an
action to the second party, who is not legally required to respond, but if the
second part does comply, then the first party is obligated to honor the promise
made
Unsecured loan
A loan that is not guaranteed by
collateral
Usury
The act of charging more than the maximum rate
of interest permitted by law
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Scott Gerami - Broker/Owner -ABR, GRI, e-Pro, CSC Real Time Realty, LLC. 424 Fort Hill Drive, Suite 134 Naperville, IL. 60540 Toll Free:: 800-297-9772 Direct:: 630-357-4800 Fax:: 630-206-0386 Email: Scott@NaperHomes.com
Since 1986, I have served the housing needs of individuals and families in
the Western Suburbs. As a resident of the Naperville area, one of the
fastest growing areas in the United states, I have become aware of the many
housing opportunities available for the first time buyer to the empty
nester. I am involved in many community organizations throughout the
Western Suburbs. and have become a familiar face to many of the builders and
financial lending institutions in the area.
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