| Negative Amortization | Occurs when interest accrued during a payment period is greater that the scheduled payment and the excess amount is added to the outstanding loan balance. |
| Net Operating Income (NOI): | Total income less operating expenses, adjustments, etc., but before mortgage payments, tenant improvements and leasing commissions. |
| Non - Recourse | A mortgage or deed of trust securing a note without recourse allows the lender to look only to the security (property) for repayment in the event of default, and not personally to the borrower. |
