Absolute Auction
An auction in which the subject property is sold to the highest bidder regardless of the amount of the winning bid.
Glossary
There are a lot of unfamiliar terms that get tossed around during the mortgage process. But don’t worry, we’ve put together this glossary to help you get a better grasp of any terms that may be less than clear.
Absentee Owner
An owner who does not personally manage or reside at property owned.
Abandonment
The voluntary surrender of property, owned or leased, without naming a successor as owner or tenant.