Underlayment A layer of wood between the
subfloor and the floor.
Underwriting The process that lenders go
through to evaluate the risks posed by a particular
borrower and to set appropriate conditions for the loan.
Undisclosed heir A person who claims the
right to a piece of property after the death of an owner
without a will.
Undisclosed spouse An unidentified marital
partner who can claim the right to a piece of property.
Unrecorded deed An unrecorded deed
transfers ownership from one party to another without
being officially recorded.
U.S. Department. of Housing and Urban Development
(HUD) A federal agency that oversees the Federal
Housing Administration and a variety of housing and
community development programs.
Unsecured loan Any loan that is not backed
by collateral.
Upgrades Options than the standard
carpeting, lighting, finish carpentry and other
amenities offered to all buyers in a new-home project.
Upzoning The process in which a property is
zoned from a lower to a higher use.
Urban sprawl The unplanned expansion of
development over a large area.
Usury A reference to illegally excessive
interest charged on any loan.
