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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.