Maintenance - The care and upkeep of a building.

Malfeasance - Doing an act that is wrongful.

Management Agreement - A contract between a property’s owner and a person who agrees to manage the property.

Margin - A fixed amount over an index that determines the yield of a lender on an adjustable rate loan. An adjustable rate loan’s index rate is determined by adding a margin to an index. The margin’s size is typically a function of the index used and the credit worthiness of the borrower. Typical margins on a Prime Rate-based loan are between 0.0 to 5.0. For example, if the Prime Rate is 8.25% and the margin is 2.0 (which is typical for an "average" borrower), the interest rate is 10.25% (8.25 + 2.0). (See definition of "index" above.)

Marketable Title - A title that is free from any defects.

Master Lease - A controlling lease on a property.

Maturity - The date on which a borrower must pay the principal balance of a loan, bond, or other financial instrument.

Maximum Financing - A loan amount that comes within 5 percent of the highest allowed loan-to-value ratio on a property.

McMansion - A derogatory term for a large house on a small lot, usually built in a neighborhood undergoing gentrification.

Mechanic's Lien - A lien placed upon a building or other improvement that functions as security for the payment of labor and materials furnished for improvement.

Menace - (1) A threat of violence used to secure a contract. (2) A threat of violence to another such as a trespasser.

Merged Credit Report - A report that combines information from Equifax, Experian, and Trans Union Corporation—the "big three" credit companies.

Mill - One tenth of one cent, or $0.001.

Mineral Rights - The rights to take things beneath the soil. Can be sold separate from the land.

Minimum Payment - The minimum amount that must be paid on an account each month. Includes payments to the principal as well as interest.

Mixed Use - The use of real property for more than one type of use, such as both housing and offices in the same building.

MLS - Multiple Listing Service.

Monthly Mortgage Insurance (MI) Payment – The portion of a monthly payment that covers Private Mortgage Insurance’s cost.

Monthly Payment (P&I) - The monthly mortgage payment on a home loan. The payment includes principal and interest, but excludes any amounts applied to taxes and insurance.

Monthly Principal & Interest (P&I) Payment – A portion of a monthly payment that covers a loan’s principal and interest due.

Monthly Taxes & Insurance (T&I) Payment – A portion of a monthly payment that covers the escrow or impound account for purposes of taxes and insurance.

Mortgage - A lien against real property received by a lender from the borrower that functions as security for money borrowed.

Mortgage (Open-End) - A mortgage that allows additional money to be borrowed without the obligation to refinance the loan or pay additional finance charges. The amount borrowed must not exceed the original loan amount.

Mortgage Balance - See Principal Balance.

Mortgage Broker - One who acts as an intermediary between borrowers and lenders.

Mortgage Insurance Premium (MIP) - The payment that a borrower of FHA-insured mortgages makes in order to provide a reserve protecting lenders against losses from very high loan-to-value loans.

Mortgage Loan - A loan that is secured by a mortgage lien against a real property.

Mortgage-Interest Deduction - A tax deduction that the Internal Revenue Service allows most owners to claim. Under this deduction, owners may deduct annual interest payments made on real estate loans.

Mortgagee - The person to whom the mortgage is given—the lender.

Mortgagor - The person who gives the mortgage--the borrower.

Multi-Dwelling Property - A property containing individual units for two or more households, but holds only a single mortgage.