What does it mean to gazump someone? This phrase, specifically meaning “to swindle a customer in a real estate deal,” came about in the United States in the 1920s and 1930s before disappearing and then popping up again in England in the...
REO n.— «R.E.O. is industry lingo for “Real Estate Owned,” the term that bankers assign to homes they have taken in a foreclosure. Reomac is the industry group that serves the mortgage default trade, specializing in selling the busted-up...
POD n.— «The mother can designate beneficiaries of the account who will receive the monies in the account upon her death. These accounts are often called “Payable on Death,” or “POD” accounts. They operate similar...