The term of a loan or other financial product refers to the length of time over which it must be repaid. For example, a loan with a 5-year term would need to be fully repaid within 5 years.

Indivisible ownership refers to a type of ownership in which multiple parties own a property together, but do not have distinct and separate ownership interests. This can happen when multiple people purchase a property together or when a property is inherited by multiple heirs.

A virtual lender is a type of financial institution that offers loans or other financial products online, rather than through traditional brick-and-mortar branches. Virtual lenders may use online platforms and automation to underwrite and approve loans, making the process faster and more convenient for borrowers.

A mortgage is a type of loan used to purchase a home. The borrower (usually a homeowner) takes out a mortgage from a lender (usually a bank) and uses the property being purchased as collateral for the loan.

The sale price balance is the amount of money that is still owed on a property after it has been sold. This can happen if the sale price of the property is less than the amount of the mortgage or other debt that is secured by the property.

Amortization refers to the process of paying off a loan or other debt over time. This typically involves making regular payments to the lender, which include both principal (the original amount borrowed) and interest (the cost of borrowing the money).