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N

National Association of Realtors (NAR)	A real estate trade organization that sets the standards for integrity and honesty within the real estate profession nationwide
Negative amortization	A gradual increase in the balance of a loan or mortgage which occurs because the monthly payments made are too small to cover the entire principal and interest charges; this shortfall amount is added to the remaining balance, resulting in negative amortization
Net listing	The advertisement of the price of property for sale in terms of the net price the seller will receive, once the property is sold, a type of listing which is illegal in many states
Net worth	The total value of all of an individual's assets, minus all liabilities or debts
No cash-out refinance	A transaction for refinancing a mortgage in which the new mortgage amount is limited to the sum total of the remaining balance of the first mortgage, points, closing costs, whatever is required to satisfy any liens that are more than one year old and other funds for the borrower's use (as long as the amount is one percent or less of the principal amount of the new mortgage)
Notary	An individual authorized by law to certify documents and signatures
Note	A legal document that obligates a borrower to repay a loan or owed sum of money at a stated interest rate over a designated period of time

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Q  What does the term ARM stand for? A  An ARM is an Adjustable Rate Mortgage, a loan where the interest rate is tied to an economic index that fluctuates with the market. See More Real Estate Trivia >

The Sly Team RE/MAX Greater Atlanta / The Buckhead Office 5163 Roswell Road NE Atlanta, GA 30342 Tel: 404-441-9699 Fax: 404-257-0876 Email: majasly@NUMBER1EXPERT.com Maja Sly began working in real estate while in college over 12 years ago as a property manager. With a degree in Finance she has always been fascinated with the "numbers" aspect of everything. After several successful entrepreneurial ventures, she decided to change gears and began working with RE/MAX in 2001, to fill a void for what she thought was a lack of understanding by most agents regarding the mortgage aspect of purchasing a home. Quickly rising to become one the most prosperous and leading realtors in the Atlanta area. She has been awarded the RE/MAX Platinum and Chairman Club honors, and in 2005, she made it into the prestigious RE/MAX Hall of Fame. With her extensive background in mortgages and Finance, Maja formed The Sly Team which includes a Builder Services Department, Relocation Specialist, Residential, Luxury Homes, Town homes, Condos, and Investment Property. www.TheSlyTeam.com is brought to you by The Sly Team NUMBER1EXPERTS™ in real estate for Cascade, Atlanta and South Fulton County, Georgia, New Construction, Unique and Luxury homes Read The Sly Team's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

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