Hog Valley 
Valley that exists between two roofs that slope toward each other and is partly filled and sloped so that any runoff water from either of the roof slopes flows toward a gutter. 

Hoist 
An apparatus for lifting heavy things. 

Hold back 
Portion of a construction loan withheld by a lender from a contractor until all construction work is satisfactorily completed or sufficient space is leased in a floor loan. 

Hold Harmless Clause 
Contractual clause where one party assumes a liability risk for another and, thus, effectively indemnifies the named party from any liability. 

Holder In Due Course 
Legal ruling providing protection to homebuyers of defective homes ought from a seller who then sold the contract to a third party. Alternately, one who acquires a bearer instrument in good faith and is eligible to keep it even though it may have been stolen. 

Holding Company 
Company formed for the purpose of owning or controlling other companies. 

Holding Funds 
Funds retained in an account until a certain event occurs. 

Holding Grade 
Maintaining the proper depth at the bottom of an excavation. 

Holding Period 
The time span of ownership of a real estate investment with the return tied to the time period of the investment for tax purposes, determining whether a profit earned of loss incurred is treated as short or long-term capital gains or losses. 

Holdout 
Landowner in the path of something who refuses to sell. 

Holdover Tenant 
Tenant who remains in possession of leased property after the expiration of the term of the lease. 

Hole 
A hollowed-out place, or cavity in any surface. An opening. 

Hole Gauge 
Gauge to measure the diameter of a small hole. 

Hole Punch 
A tool that punches out a circular section of material leaving a hole in the remaining piece. 

Hole Saw 
A small cylindrical attachment for a power drill which consists of a circular saw blade, used to cut holes. 

Holiday 
A missed spot in painting or tarring a roof or foundation, sometimes called a Sunday, it is named because of the idea of a holiday being a gap in work. 

Hollow 
Having an empty space or cavity inside an object. 

Hollow Brick 
A brick with several large holes through the core so that you can look through to the other side. The brick amount is less than 75 percent of the total surface area. 

Hollow Concrete Masonry Unit 
Concrete block with several large holes through the core so that you can look through to the other side. The block amount is less than 75 percent of the total surface area. 

Hollow-Core 
Construction where the framework for a door is covered with thin plywood, which is supported by lightweight material in the framework center. 

Hollow-core Door 
A flush door with plywood facing over framework that does not have a solid core. 

Hollow Ground 
Also called taper ground, this way of grinding a blade to taper from a thicker cutting edge to a thinner section toward the hub to keep it from binding in the material being cut. 

Hollow Masonry 
Construction of concrete masonry units, in a single section, one block thick, with the block ends filled with grout as each row is laid. 

Hollow Wall 
Wall with an air space within the wall. 

Holographic Will 
Will that does not meet all the requirements of a valid will. 

Home Affordability Index 
Measure of the typical U.S. family's ability to buy a home, published by the National Association of Realtors. When the Index measures 100, a family earning the median income has exactly the amount needed to purchase a median-priced, previously owned home, using conventional financing and a 20% down payment. Some experts maintain that every one-point increase in the home mortgage interest rate results in 300,000 fewer home sales. 

Home Equity Conversion Mortgage 
Also known as reverse mortgage, this loan is made to older owners to convert their equity into money. Borrowers are qualified on the basis of the value of their homes. This is not the same as a home equity loan. 

Home Equity Line of Credit 
Open-ended line of credit based on a homeowner's equity. Most loan amounts are limited to 75 or 80 per cent of the appraised value. Withdrawals can be made at any time with the guidelines. 

Home Equity Loan 
Loan allowing owners to borrow against their equity in the home, usually a second mortgage. 

Home Improvement Loan 
Loan used to pay for major remodeling, reconstruction or additions to the home, usually a second mortgage. 

Home Inspection 
Examination of a home's condition, internal systems or construction prior to purchase. 

Home Inspector 
Professional who does home inspections and evaluates the structural soundness and operating systems of a home. 

Home Inventory 
Listing of items and their costs of an individual's possessions at his residence. 

Home Loan 
Also known as a mortgage, it is a lien that makes property security for the repayment of a debt, such as the one incurred upon purchase of that home. 

Home Ownership 
The state of living in a structure that one owns. 

Home Price 
Price agreed upon by seller and purchaser and for which title is exchanged. 

Home Rule 
Power of the local government to implement its own land-use regulations. 

Home Warranty 
Warranties issued by contractors, sellers and real estate agencies that protect homebuyers from specified defects in a house as per the contract. 

Homeowners' Association (HOA) 
1. Group that governs a planned community or condominium and collects monthly fees from all owners to pay for common are maintenance, to handle legal and safety issues, and to enforce the conditions and restrictions set by the developer. 
2. Organization of the homeowners in a particular subdivision, planned unit development or condominium for the purpose of enforcing deed restrictions and managing the common elements of the development. 

Homeowners' Fee 
Fee charged to homeowner to belong to a homeowners' association, which includes the cost of maintenance and other services. 

Homeowners' Insurance Policy 
Type of insurance policy covering the risks of homeowners, including damage, theft, fire, personal liability, etc. 

Homeowners' Warranty 
Special insurance covering certain home repairs for a specified amount of time. 

Homeowners' Warranty Program 
Private insurance program, which protects purchasers of newly, constructed homes against structural and mechanical defects and provides reimbursement for the cost of remedying the situation, if the builder does not do so. 

Homestead 
Legal status provided by certain states on a homeowner's principal and in some states provides protection against creditor claims or forced land sale as long as the homeowner continues to maintain his/her residence there. 

Homestead Law 
Law that exempts a homestead from forced sale to meet general debts. 

Homogenous 
1. Term for an area where property types and uses are similar and compatible. A thing constructed with parts of the same material. 
2. Constructed of parts of all the same type of material. 

Homogeneous Beam 
Structural beam made of only one material. 

Hone 
1. To grind something to a sharp edge. 
2. A fine-grained, hard stone used to sharpen cutting tools. 

Honed Finish Limestone 
Very fine smoothly finished limestone. 

Honeycomb 
1. Structural material, resembling the six-sided cell structure of a honeycomb, which is rigid but lightweight and is used when a high rigidity-to-weight ratio is needed. 
2. Badly poured or mixed concrete, which is not "puddled" before it sets which leaves it weaker than needed.