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Hazard insurance	Insurance protection for specified losses due to natural causes, such as fire, floods, earthquake, tornadoes, and other "acts of God"
Heir	An individual who will potentially inherit an interest in land from someone who dies
Hiatus	A gap or space between two parcels of lands that is not included in the legal description of either parcel
Home equity line of credit, or Home equity loan	A mortgage loan (usually not the primary mortgage) or line of credit which gives the property owner the option to obtain cash advances from the loan proceeds, using his or her residence as collateral, but which is not to exceed a pre-arranged amount of the owner's total equity in the property
Homeowners' association	A nonprofit association of individual owners of units in a multi-unit structure (either a planned unit development, or a condominium) that manages the common areas of that structure. In a planned unit development (PUD) project, the association holds title to the common elements, whereas in a condominium project, it holds no title to the common elements
Homeowner's insurance	An insurance policy available to residential real estate owners that protects homeowners against financial loss from fire, theft, public liability, and other risks
Homestead	Real estate that is owned and utilized as the primary family residence, protected in some states as exempt from the claims of creditors
Homestead deed	A document filed in the land records asserting a homestead exemption, protecting a variable amount of his assets (depending on which state) against the claims of creditors
Housing ratio, or Debt-to-income ratio	The percentage that results from dividing a borrower's housing expenses by his/her gross monthly income, used by the lender to evaluate an applicant's qualification for a loan
HUD-1 statement	The document used in closing a real estate transaction (also known as a "closing statement" or a "settlement sheet") which itemizes the funds that are payable at closing, including broker commissions, loan costs, and escrow amounts, and which provides a summary of the seller's net proceeds and the buyer's net payment at closing. It is required by the US Department of Housing and Urban Development (HUD) whenever federally-related mortgages are being made on residential properties

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Q  What does "contingency" mean in real estate? A  A contingency is a specified event that must take place before a home purchase contract is binding; for example, a sale can be said to be "contingent upon the sale of the buyer's current residence." See More Real Estate Trivia >

The Di Lewis Team Prudential Americana Group, Realtors 871 Coronado Center Dr., Suite 100 Henderson, NV 89052 Phone: 702-566-5827 Fax: 702-565-7563 Cell: 702 824 2188 Email: di@dilewis.com Di & Mike are married with four daughters and four grand children and live in Lake Las Vegas. Di was born in Australia and has been a U.S. resident since 1985 and is a US citizen. Prior to practicing real estate, Di & Mike owned and operated an international textile corporation specializing in home furnishings, with offices in New York, Hong Kong and Australia. They have extensive experience dealing with foreign nationals and Di knows what it's like to move from one side of the world to the other. Real Estate designations held include: GRI (Graduate of the Real Estate Institute) ABR (Accredited Buyers Representative) e-PRO (Certified Internet specialist). Mike was born in New York and has holds a BBA from Adelphi University and is is a New York CPA. Mike is the team manager and brings a wealth of financial management and administrative experience to the team. Mike specializes in commercial real estate and is currently a CCIM candidate. www.dilewis.com is brought to you by The Di Lewis Team NUMBER1EXPERTS™ in real estate for Henderson, Lake Las Vegas and Las Vegas, Nevada Read The Di Lewis Team's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

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