First-Time Home Buyer Tax Credit information
from the IRS. 

State Housing Agencies
with programs that provide short-term loans that may be used to fund a down payment in conjunction with the tax credit. 

Buying and Owning a Home
Freddie Mac 

Buying a Home
Department of Housing and Urban Development 

The Home Buying Process
Federal Housing Administration

FHA Loans
Federal Housing Administration 

Homeownership Resources
Fannie Mae 

Home Loan Learning Center
Mortgage Bankers Association 

Move.com
NAHB’s official new homes listing site 

Home Loan Guaranty Services
Dept. of Veterans Affairs 

State and Local Home Buyer Assistance Programs 
Housing Publications from the Federal Citizen Information Center
Most in PDF format 

Consumer Information from NAHB
NAHB.org 

Mortgage information from the Fed
Federal Reserve Board 

Home Financing Information from the FTC
Federal Trade Commission 

Making Home Affordable
Foreclosure prevention

 *Provided by www.federalhousingtaxcredit.com

Adjustable-Rate Mortgage (ARM) | Interest rates on this type of mortgage are periodically adjusted up depending on a specified financial index.

Amortization | A method of equalizing the monthly mortgage payments over the life of the loan, even though the proportion of principal to interest changes over time. In the early part of the loan, the principal repayment is very low, while the interest payment is very high. At the end of the loan, the relationship is reversed.

Annual Percentage Rate (APR) | The actual finance charge for a loan, including points and fees, in addition to the stated interest rate.

Assessed Value | The value placed on a property by a municipality for purposes of levying taxes. It may differ widely from appraised or market value

Balloon Payment | A large principal payment due all at once at the end of some loan terms.

CAP | A limit on how much the interest rate can change in an adjustable-rate mortgage.

Closing | The deed to a property is legally transferred from seller to buyer, and documents are recorded.

Contingency | A condition in a contract that must be met for the contract to be binding.

Deed | A legal document that formally conveys ownership of a property from seller to buyer.

Equity | The value of the property actually owned by the homeowner: purchase price, plus appreciation, plus improvements, less mortgages and liens.

Escrow | A fund or account held by a third-party custodian until conditions of a contract are met.

Fair Market Value (FMV) | Amount a willing and knowledgeable buyer would pay and seller would accept in a property transaction.

FHA Mortgage | Loan insured by Federal Housing Administration.

Fixed-rate mortgage | Interest rates on this type of mortgage remain the same over the life of the loan.

Fixture | A recognizable entity that is permanently attached to a property and belongs to the property when it is sold.

Foreclosure | Forced sale of real estate to repay debt.

Freddie Mac | Federal Home Loan Mortgage Corporation .A government-chartered, privately owned entity that buys mortgages from S&Ls.

Grantee | Party to whom the title to real property is conveyed.

Grantor | Person who conveys real estate by deed; the seller.

HUD | Department of Housing and Urban Development

Market Value | The price that is established by present economic conditions, location and general trends.

Notice of Default | Letter sent to party as reminder loan has not been paid; may include a grace period and penalties for failing to cure the default.

P.I.T.I | Principal, interest, taxes and insurance, forming the basis for monthly mortgage payments.

Principal | One of the parties to a contract; or the amount of money borrowed, for which interest is charged.

Short Sale | A sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold.

Real Estate Owned (REO) | a property that goes back to the mortgage company after an unsuccessful foreclosure auction becoming a bank owned property.

Title | Evidence of ownership of land.

Truth In Lending Act (TILA) | Federal law that requires lenders to make certain disclosures (such as interest, annual percentage rate, total cost of loan, total of all payments, and use of disclosure forms at the loan application and closing) to borrowers concerning loan.

Emergency Rental Assistance Hotline (King County WA) CALL 211

Positive Economic News!
http://positiveeconomicnews.com/

Rip-off Report: By Consumers, For Consumers
http://www.ripoffreport.com/

Consumer Warning Network
http://consumerwarningnetwork.com/

Neighborhood Legal Clinics (King County)
http://www.kcba.org/legalhelp/NLC/clients.aspx

King County Recorder's Office Records Search http://www.kingcounty.gov/business/Recorders/RecordsSearch.aspx

Snohomish County Recorder’s Office Records Search http://www1.co.snohomish.wa.us/County_Services/Public_Records/

Pierce County Recorder’s Office Records Search
http://hartweb.co.pierce.wa.us/

Washington State Foreclosure Intervention
www.homeownership. wa.gov

IRS Mortgage Workouts, Now Tax-Free for Many Homeowners; Claim Relief on Newly-Revised IRS Form
http://www.irs.gov/irs/article/0,,id=179073,00.html

Washington State Tenant Rights and Laws provided by WSBA
http://www.wsba.org/media/publications/pamphlets/landlord-tenant.htm

Washington State Probate Law provided by WSBA
http://www.wsba.org/media/publications/pamphlets/probate.htm

Washington State Foreclosure Help and Information provided by DFI
http://dfi.wa.gov/consumers/education/foreclosure/prevent_foreclosure.htm