A borrower who submits applications through two loan providers, usually mortgage brokers, without their knowledge. Home purchasers sometimes submit more than one loan application as a way ...
The period over which the borrower is obliged to make payments. On most mortgages,
the payment period is a month but on some it is biweekly. It is not necessarily the same as the
Interest ...
One or more persons who hove signed the note and are equally responsible for repaying the loan. When One Co-Borrower Has Much Better Credit than the Other: A problem that arises frequently ...
A documentation option where the applicant's income is disclosed and verified but
not used in qualifying the borrower. The conventional maximum ratios of expense to income are not ...
Acceleration Clause is a contractual provision inserted in a mortgage, a bond, a deed of trust or other credit vehicles, that gives the lender the right to demand repayment of the ...
Administering loans between the time of disbursement and the time the loan is fully
paid off. Servicing includes collecting payments from the borrower, maintaining payment records, ...
A mortgage Web site designed to provide leads to lenders. A 'lead' is a
packet of information about a consumer in the market for a loan. Lenders pay for leads, and these
sites are an ...
Are you like “OMG! I forgot my mortgage payment! What happens now? Will I have to pay double the value I had to pay?! Are the cops coming to get my house?!”
Calm down. ...
Wondering what is the effect of paying extra principal on a mortgage – if there’s any?
Well, it actually does have a big effect and – if you do have available funds to do ...
Paying points for a lower interest rate is a trade off between paying money now versus paying money later. A point - equaling 1% of the total loan amount - is an upfront fee that reduces ...
To understand what is a subprime mortgage, we need to talk about the subprime definition. Subprime means something that is not in the best conditions and, in this scenario, it refers to a ...
RealEstateAgent.com calculator estimates the tax benefit of buying a home. Input your loan parameters and the month you purchased the home. Since home interest and points are captured in ...
Wondering what is the best lease purchase mortgage definition?A lease purchase mortgage is a financing option that allows potential homebuyers to lease a property with the option to ...
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