First Quarter: The moon is one-half illuminated by the sun. Occurs when the moon's illumination is increasing, Waxing Gibbous: The moon is more than one-half illuminated by the sun but not completely illuminated. Occurs when the moon's illumination is increasing, Full Moon: The moon is totally visible in the sky. Except during a lunar eclipse, Waning Gibbous
Property Preservation â This term refers to the industry of professionals who provide services to banks and asset management companies on their foreclosure houses. Typical services provided are repair, inspection, insurance claim management and maintenance. Also known as Mortgage Field Services.
In insurance policies for fire or water damage the coinsurance clause provides that property must be insured for a specific percentage, usually 80 percent of its actual cash value. The 80 percent provision is known as the New York Standard Coinsurance Clause. The owner of the property is liable for the remaining 20 percent of its actual cash value.