ForfeitureThe relinquishing of property rights by a delinquent borrower.

Homeowners' insuranceThis insurance includes hazard coverage for any damages that may affect the value of a house, in addition to personal liability and theft coverage. StudsThe upright pieces of lumber or steel in a wall to which panels, siding, drywall or other coverings are attached. Back to TopWainscotingWood paneling, tongue-and-groove boards or similar material installed between a baseboard and a chair rail. PerennialAny plant that produces leaves, flowers and seeds from year to year, such as irises or peonies. Treasury billsSecurities issued by the Treasury Department that have the full backing of the U. FramingThe construction of the skeletal framework of a house. Bankruptcies remain on a credit record for seven years and can severely limit a person's ability to borrow.

EvictionA legal procedure to remove a tenant for reasons including failure to pay rent. DrawA payment made to subcontractors or suppliers from a construction loan. Data is graphed with one data point for the first day of each month. AlcoveA recessed section of a room, such as a breakfast nook. Commitment feeThe fee a lender charges for promising to make a loan. BoulevardA street lined with trees or constructed with a landscaped median. PatioAn interior courtyard or a paved backyard area.

Georgian stylePopular throughout the 18th century, this type of architecture is distinguished by a symmetrical facade, prominent front entrance and quoins-decorative blocks of masonry or wood set in the corners of the house. MediationA dispute-resolution process in which a neutral party works to resolve contract differences. CondemnationThe process the government uses to take private property for public use without the consent of the owner. BettermentAn improvement that increases a property's value as opposed to repairs that maintain the value.