Internet Mortgages


Definition of "Internet Mortgages"

Mortgages delivered using the Internet as a major part of the communication process between the borrower and the lender.

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Popular Real Estate Terms

Servicing

Administering loans between the time of disbursement and the time the loan is fully paid off. Servicing includes collecting payments from the borrow ...

Locking The Loan

An option exercised by the borrower, at the time of the loan application or later, to 'lock in' the rates and points prevailing in the market at that ...

Nichification

Proliferation in the number of loan, borrower, property, and transaction characteristics used by lenders to set mortgage prices and underwriting requ ...

Reverse Mortgage

A mortgage loan to an elderly homeowner on which the borrower's debt rises over time, but that need not be repaid until the borrower dies, sells the ...

Mortgage Scams And Tricks

Deceptive practices used by mortgage loan providers and other participants in the mortgage process. Scams by Loan Providers: Lenders and mortgage br ...

Waiver Of Escrows

Authorization by the lender for the borrower to pay taxes and insurance directly. This is in contrast to the standard procedure, where the lender add ...

Popular Real Estate FAQ

What Is An Adjustable-rate Mortgage (ARM)?

A type of mortgage in which the interest rate is keyed to a certain economic index and is adjusted as the index rises and falls. If you have this type ...

What Is A Basic Policy?

A basic policy is a homeowners insurance policy that covers certain perils. ...

What Do I Need To Know About Motorcycle Insurance?

You need an insurance policy that is tailored in your needs in mind. Take liability for example. Guest passenger liability helps protect you bodily in ...

What Is Principal?

Principal is the amount of money borrowed and still owed on a loan not including the interest. ...

What Is A Debt-to-income Ratio?

A debt-to-income ratio is the percentage of a persons monthly earnings used to pay off all debt obligations. ...

What Does Computer Insurance Cover That My Warranty Doesn\'t?

Warranties primarily cover manufacture\'s defects parts that go bad from regular use. Insurance covers things like- Theft Fire Power surges ...

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