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2835 Grand Ave., Suite B
Laramie, WY 82070
(307) 742-2099
  
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GLOSSARY OF
TERMS
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- VA loan
- A mortgage loan on approved property made to a qualified veteran by
an authorized lender and guaranteed by the Department of Veterans
Affairs in order to limit the lender's possible loss.
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- variance
- Permission obtained from zoning authorities to build a structure or
conduct a use that is expressly prohibited by the current zoning laws;
an exception from the zoning ordinances.
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- Veterans Administration (VA)
- A government agency guaranteeing mortgage loans with no down
payment to qualified veterans.
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- voidable contract
- A contract that seems to be valid on the surface but may be rejected
or disaffirmed by one or both of the parties.
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- void contract
- A contract that has no legal force or effect because it does not
meet the essential elements of a contract.
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- voluntary lien
- A lien placed on property with the knowledge and consent of the
property owner.
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