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Real Estate Dictionary: Bronxville, Yonkers and Eastchester New York home buying, real estate listings, and homes for sale in Westchester County, NY

Welcome > Resources > Real Estate Dictionary - A

NATIONAL ASSOCIATION OF REALTORS^® (NAR)	A real estate trade organization that sets the standards for integrity and honesty within the real estate profession nationwide
Negative amortization	A gradual increase in the balance of a loan or mortgage which occurs because the monthly payments made are too small to cover the entire principal and interest charges; this shortfall amount is added to the remaining balance, resulting in negative amortization
Net listing	The advertisement of the price of property for sale in terms of the net price the seller will receive, once the property is sold, a type of listing which is illegal in many states
Net worth	The total value of all of an individual's assets, minus all liabilities or debts
No cash-out refinance	A transaction for refinancing a mortgage in which the new mortgage amount is limited to the sum total of the remaining balance of the first mortgage, points, closing costs, whatever is required to satisfy any liens that are more than one year old and other funds for the borrower's use (as long as the amount is one percent or less of the principal amount of the new mortgage)
Notary	An individual authorized by law to certify documents and signatures
Note	A legal document that obligates a borrower to repay a loan or owed sum of money at a stated interest rate over a designated period of time

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Priscilla Toomey, REALTORŽ, real estate agent and broker for Bronxville, Yonkers and Eastchester New York home listings, property and land for sale - NUMBER1EXPERT(tm)

Priscilla Toomey
Bronxville-Ley Real Estate
17 1/2 Park Place
Bronxville, NY, 10708
Cell:: 914-559-8084
Office:: 914-337-1234 ext. 568
Fax: 914-337-0304
ptoomey@NUMBER1EXPERT.com
Priscilla Toomey brings to Bronxville-Ley an extensive background in several areas of real estate. For 11 years, she served as General Counsel of one of Americas leading relocation firms, where she advised in excess of 20,000 home sales and purchases yearly.

With over 400 corporate clients Priscilla was responsible for changes to the tax law which preserved favorable income tax treatment for employees nationwide. She has written 2 books and many articles regarding getting the highest price for your home and making your home sale transition as easy as possible.

Priscilla has been President of Burlington Realty Asset Management since 1997, investing in and managing multiple family homes. She is a graduate of Hunter College of the City University of New York, Phi Beta Kappa, and of the University of Virginia Law School. She holds Brokers Licenses in Connecticut as well as New York and has been designated a Senior Certified Relocation Professional since 1990.

Priscilla has served her community in various capacities, from the Board of Directors of the YWCA to President of her street association to Co-Chair of Friends of the Performing Arts at her daughters school. Priscilla has also lived in Canada for extended periods and traveled to Russia with the Experiment in International Living. She was a Gold Award winner for 2005 (top 20% company-wide)and a Platinum Award winner for 2006 and 2007(top 10% company-wide) at her former company.

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