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H

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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Pat Decillis Keller Williams Properties 1625 North Commerce Parkway Suite 105 Weston, FL 33326 Direct: 954-306-4427 Office: 954-306-4431 Fax: 954-306-4424 Email: pat@patdecillis.com Pat brings over 28 years of real estate experience to the team. Starting her career in Broward County, Pat has helped build our Community. Raising two children, Dean and Dianne, Pat has been active in local schools, sports clubs and community leadership programs. Pat has been a licensed real estate agent since 1980 and a licensed broker since 1988. Pat has consistently been an office leader, winning numerous awards and staying in the top 1% of all realtors in the U.S. She has also achieved the prestigious RE/MAX 100% Club, Platinum Club and Hall of Fame Memberships. Her biggest asset is her strong negotiating skills, which has enabled her to get the highest price and best terms for her clients. www.PatDecillis.com is brought to you by Pat Decillis NUMBER1EXPERT™ in real estate for Weston, Pembroke Pines and Fort Lauderdale, Florida Read Pat Decillis' Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

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