Net worth
The worth of a person or company based on the difference between total assets and liabilities.
New Urbanism
A community design philosophy that favors the return of new-home development with such traditional features as prominent front porches, backyard garages, multi-use buildings and housing clustered near commercial service areas.
Niche
A small recessed area in a wall, traditionally arched at the top.
Note
The legal document that requires a borrower to repay a mortgage at a certain interest rate over a specified period of time.
Notice of default
A lender's initial action when a mortgage payment is late and attempts to reconcile the ssue out of court have failed.
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