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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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Lee Wilbanks And The W.R.E.C. Group RE/MAX Alliance Direct: 734-432-9342 Toll Free: 866-4WILBANKS Cell: 734-635-2390 Fax: 734-432-9943 Office: 248-784-4100 Email: wilbanks@leewilbanks.com Email: wilbanks@thewrecgroup.com Lee Wilbanks is a 3rd generation Realtor. Lee's many accomplishments include: the Prestigious CRS, DGA, ABR, RECS, SRES, Professional Standards, Presidents Club, Chairman's Club, Top 10% Club, Life Time Achievement Award, Top Producer, Honored Professional of "Who's Who" in Executives in Business, Hall of Fame and Platinum Member. You can visit Lee at his web site or email him. Lee has lived in the Livonia, Novi, Northville and Farmington area for the past 30 years. He is married and has three children. To buy or sell call the RE/MAX Realty professional LEE WILBANKS. www.leewilbanks.com is brought to you by Lee Wilbanks And The W.R.E.C. Group NUMBER1EXPERT™ in real estate for Livonia, Novi and Northville, Farmington Michigan Read Lee Wilbanks And The W.R.E.C. Group's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

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