R-value : A construction term that refers to the resistance of to heat loss. The higher the R-value, the slower the rate of heat loss.

Radon : A ground-generated radioactive gas that seeps into some homes through sump pumps, cracks in the foundation and other inlets. A leading cause of lung cancer , radon is found in mostly the northern half of the country.

Rafter : Rafters form the slope of a pitched roof and are analogous to floor joists.

Rammed-earth construction : An alternative building process in which dirt is compacted into large structural frames to create walls.

Ranch style : Modern ranch-style homes, popularized in the 1950s, were championed by such architectural giants as Frank Lloyd Wright.

Rate-improvement mortgage : A loan with a clause that entitles a borrower to a one-time cut in the interest rate without going through refinancing.

Rate lock : When interest rates are volatile, many borrowers want to "lock in" an interest rate and many lenders will oblige, setting a limit on the amount of time the guaranteed interest rate is in effect.

Real estate : Land and anything permanently affixed to it, including buildings, fences and other items attached to the structure.

Real estate agent : A real estate agent has a state license to represent a buyer or a seller in a real estate transaction in exchange for a commission. Most agents work for real estate brokers.

Real estate attorney : A lawyers who specializes in real estate transactions.

Real estate broker : A real estate agent who is licensed by the state to represent a buyer or seller in a real estate transaction in exchange for a commission. Most brokers also have agents working for them, and are entitled to a portion of their commissions.

Real estate investment trusts (REITs) : The trusts are publicly traded companies that own, develop and operate commercial properties.

Real Estate Settlement Procedures Act (RESPA) : A federal law designed to make sellers and buyers aware of settlement fees and other transaction-related costs. RESPA also outlaws kickbacks in the real estate business.

Real property : Land and any permanent fixtures on it, including buildings, trees and minerals.

Realtist : A designation for an agent or broker who is a member of the National Association of Real Estate Brokers.

Realtor : A designation for an agent or broker who is a member of the National Association of Realtors.

Recission : The cancellation of a contract by law or consent by the parties involved.

Reconveyance : When a borrower completely pays off the mortgage, the property is reconveyed to them from the lender.

Recorder : A public official responsible for keeping the records of all real estate transactions.

Recording : The filing of a specific document to the appropriate government entity.

Recording fee : A fee charged by real estate agents for conveying the sale of a piece of property into the public record.

Redlining : The practice by a bank or insurance company to deny credit or insurance to people based on ethnic background or neighborhood.

Refinancing : The process of replacing an older loan with a new mortgage that has better terms.

Regulation Z : The federal code issued under the Truth-in-Lending Act which requires that a borrower be advised in writing of all costs associated with the credit portion of a financial transaction.

Rehabilitation mortgage : A mortgage that provides for the costs of repairing and improving a resale home or building.

Relocation benefits : Benefits provided by employers for new workers and can include moving costs, reimbursement for temporary housing and transportation, real estate agent assistance and discounted loans.

Relocation company : A firm that administers all aspects of moving in new employees to the community.

Remaining balance : The amount of unpaid principal on a home loan.

Remaining term : The original loan term minus the number of payments made.

Renter's insurance : A policy that covers the replacement value of possessions.

Rent loss insurance : A policy that covers any loss of rent or rental value in the event of fire or other damage that renders the property uninhabitable.

Repayment plan : When a borrower falls behind in mortgage payments, many lenders will negotiate a repayment plan rather than go to court.

Replacement reserve fund : Money that is set aside from homeowners' assessments to replace common property, such as furniture in a planned development's community room.

Repossession : When a house is repossessed, it is taken back by the lender holding the mortgage.

Resale value : The future value of a piece of property that can be affected by many factors, including the surrounding neighborhood, school scores, and economic and housing market conditions.

Reserve fund : All homeowners associations set aside a certain amount of money for major repairs or improvements.

Restructured loan : A mortgage in which new terms are negotiated.

Return on investment : The amount of profit a property generates.

Reverse mortgage : A special type of loan available to equity-rich, older owners. Repayment is not necessary until the borrower sells the property or moves into a retirement community.

Ridge board : A horizontal board that serves as the apex of the roof structure.

Ridge vent : A vent located along the ridge board of the roof that allows moisture to escape.

Right of first refusal : An agreement by a property owner to give another person the right to buy or rent the property before it goes on the open market.

Right to recission : A provision in the federal Truth-in-Lending Act that allows borrowers to cancel certain kinds of loans within three days of signing.

Rough-in : The installation of plumbing, electrical and other mechanical systems.

Rural Housing Service : A U.S. Department of Agriculture program that provides financing to farmers and certain borrowers to purchase rural property when other funds are not available.