· Underlayment A
layer of wood between the sub-floor and the floor.
· Underwriting The
process that lenders go through to evaluate the risks
posed by a particular borrower and to set appropriate
conditions for the loan.
· Undisclosed
heir A person who claims the right to a piece
of property after the death of an owner without a will.
· Undisclosed
spouse An unidentified marital partner who can
claim the right to a piece of property.
· Unrecorded
deed An unrecorded deed transfers ownership
from one party to another without being officially
recorded.
· U.S.
Department. of Housing and Urban Development (HUD) A
federal agency that oversees the Federal Housing
Administration and a variety of housing and community
development programs.
· Unsecured
loan Any loan that is not backed by collateral.
· Upgrades Options
than the standard carpeting, lighting, finish carpentry
and other amenities offered to all buyers in a new-home
project.
· Upzoning The
process in which a property is zoned from a lower to a
higher use.
· Urban
sprawl The unplanned expansion of development
over a large area.
· Usury A
reference to illegally excessive interest charged on any
loan.
