Valid

Having force or binding force legally sufficient and authorized by law; enforceable.

Valuation

Estimated worth or price. The act of valuing by appraisal.

Variable Interest Rate

An interest rate which fluctuates as the prevailing rate moves up or down. In mortgages there are usually maximums as to the frequency and the amount of fluctuation.

Vested

Bestowed upon someone; secured by someone, such as title to property.

Void

To have no force or effect; that which is unenforceable.

Voidable

That which is capable of being adjudged void, but is not void unless action is taken to make it so.

Voluntary Lien

Any lien placed on property with the consent of, or as a result of the voluntary act of, the owner.