Montrose, CO Office

Moab, UT Office

Waver - Voluntary relinquishment or surrender of some right or privilege.  An example would be a lien waver by a contractor after repair work is completed.  A lien waver may be required by an escrow or title befor releasing fund that have been held to cover cost of needed repairs, that are completed after closing.

Walk-through - A final inspection of a home to check for problems that may need to be corrected before closing.  There is usually a specific date by which this inspection must be preformed or it is assumed waived.  This walk-through can also be replaced by a home inspection by a qualified Home Inspector in an effort to give a more complete picture of any concerns that the borrower may have.

Wraparound Mortgage - Loan arrangement in which an existing loan is combined with a new loan, resulting in an interest rate somewhere between the old rate and the current market rate.

Zoning Ordinance (or Zoning Regulations) - Local law establishing building codes and usage regulations for properties in a specified area.  AN example would be a residential or mixed use zoning which a lender may require in order to consider the property eligible for a mortgage.