Home Equity Conversion Mortgage (HECM)

Mortgages typically amortize over time through fixed value installment payments. However, there's a type of mortgage that doesn't: the Balloon Mortgage. It's called this way because, with ...

A mortgage Web site that shows mortgage prices posted by participating lenders, in some cases hundreds of them. ...

On an ARM, the assumption that the interest rate rises to the maximum extent permitted by the loan contract. ...

The period until the last payment is due. The maturity is usually but not always the same as the period used to calculate the mortgage payment. ...

A mortgage that can be moved from one property to another. Ordinarily, you repay your mortgage when you sell your house and take out a new mortgage on the new home you purchase. With a ...

Same as term Lead Generation Site: 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 ...

The maximum allowable increase in the interest rate on an ARM each time the rate is adjusted. It is usually one or two percentage points. ...

A mortgage on which interest is calculated daily based on the balance on the day of payment, rather than monthly, as on the standard mortgage. ...

An agreement by the lender not to exercise the legal right to foreclose in exchange for an agreement by the borrower to a payment plan that will cure the borrowers delinquency. ...