HOA means homeowners association. An HOA is an association of homeowners whose houses are part of a planned unit development or PUD. Homeowners in an HOA are responsible for paying dues and abiding by the bylaws of the HOA.
Dutch Interest is when a private lender charges interest on the full loan amount, including the construction holdback that has not yet been disbursed to the borrower.
Foreclosure is the legal process in which a lender attempts to recover the balance of a loan from a non-performing borrower by forcing the sale of the asset (real estate) used as the collateral for the loan.
Real estate appraisal is the process of developing an opinion of value for real property. Appraisals are performed by licensed real estate appraisers.