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Definition of the Loan Term
Definition of the Loan Term
TRID Education from Suzanne Morton of The Mortgage Firm
TRID Education from Suzanne Morton of The Mortgage Firm
Waiver Definition | Canadian Mortgage, Insurance, & Financial Glossary
Waiver Definition Canadian Mortgage Insurance Financial Glossary
App Shopper: Zillow Mortgages - Calculator & Home Loan Rates (Finance)
App Shopper Zillow Mortgages - Calculator Home Loan Rates Finance
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mortgage vocabulary d m : Mortgage brokers are paid a fee by the borrower or the lender when a loan closes. Mortgage Commitment A written notice from the bank or other lending institution saying it will advance mortgage funds in a specified amount to enable a buyer to purchase a house. Mortgage Insurance PremiumAn "Assumption of Mortgage" is often confused with "purchasing subject to a mortgage." When one purchases subject to a mortgage, the purchaser agrees to make the monthly mortgage payments on an existing mortgage, but the original mortgagor remains personally liable if the purchaser fails to make the monthly payments.A mortgage is a loan in which the lender may use your property as payment if you don't pay back the loan. Offer your friend a mortgage for the $20 he wants...with his bike as security.Mortgage Vocabulary. STUDY. PLAY. Appraiser. a qualified individual who uses his/her experience and knowledge to prepare the appraisal estimate. ... a situation in which a homeowner is unable to make full principal and interest payments on his/her mortgage, which allows the lender to seize the property, evict the homeowner, and sell the home.Mortgage Vocabulary. Vocabulary to help high students prepare for studying mortgages and home purchases. STUDY. PLAY. Appraisal. An opinion of value on a home. Appreciation. To increase in value. Conventional Loan. Mortgage obtained through the Federal National Mortgage Association, usually 15 or 30 years in term. Curb Appeal. The ...Introduction to Mortgages: Basic Mortgage Terminology Definitions of Common Mortgage Terms . One of the most important, and confusing, decisions that people make is buying a home and taking out a Mortgage to pay for the house. There are many factors that come into play for people looking to buy a house.An index-linked CD is a deposit obligation of the issuing bank and is often sold through bank branches and affiliated and unaffiliated brokers. Index-linked CDs provide the investor the ability to participate in the appreciation, if any, of a particular index, during the term of the CD.Mortgage Vocabulary Advanced > Government & Law Mortgage. English Words for Mortgage Situations: At Drew's ESL Fluency Lessons, we understand that talking about mortgages can be difficult, even for those who have mastered the English language. ... “I’m glad I have a fixed rate on my mortgage. I don’t have to worry about the payments going ...Damage Assessment The process used to determine damage to property and business. Disaster An occurrence of a natural catastrophe, such as a hurricane, tornado, tsunami, earthquake, landslide, mudslide, volcanic eruption, fire, or snowstorm, a technological accident, or human-caused event that has resulted in severe property damage, death, and/or multiple injuries.A mortgage that has a first-priority claim against the property in the event the borrower defaults on the loan. For example, a borrower defaults on a loan secured by a property worth $100,000 net of sale costs. The property has a first mortgage with a balance of $90,000 and a second mortgage with a balance of $15,000.
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