Authorized User
Definition of "Authorized User"
Someone authorized by the original credit card holder to use the holder's card. While authorized users are not responsible for paying any charges, including their own, they are sometimes dunned for the unpaid bills of the card holder.
Popular Mortgage Terms
An option attached to a mortgage, which allows the borrower to pay only the interest for some period. A mortgage is 'interest only' if the monthly mortgage payment does not include any ...
The portion of the monthly payment that is used to reduce the loan balance. ...
A borrower with the best credit rating, deserving of the lowest prices that lenders offer. ...
A documentation rule where the borrower discloses income and its source but the lender does not verify the amount. ...
The array of laws and regulations dictating the information that must be disclosed to mortgage borrowers, and the method and timing of disclosure. ...
The provision of the U.S. tax code that allows homeowners to deduct mortgage interest payments from income before computing taxes. Points and origination fees are also deductible, but not ...
A condominium project with features that lenders view as favorable in terms of their risk exposure on loans secured by individual condo units. The requirements of warrantability include ...
The house in which the borrower will live most of the time, as distinct from a second home or an investor property that will be rented. ...
The definition of interest is extremely important in today’s business environment where lending and borrowing money are the power stations of our economy. A widespread definition of ...
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