Monthly Debt Service

Definition of "Monthly Debt Service"

Monthly payments required on credit cards, installment loans, home equity loans, and other debts but not including payments on the loan applied for.

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Related Real Estate Glossary terms

Deed In Lieu Of Foreclosure

Legal document that conveys real estate to the lender after the borrower defaults on his or her mort ...

Permit

Document issued by a governmental agency permitting the recipient to do something. An example is a b ...

Reserve Liabilities Regulation

LIFE INSURANCE: specification by each state regarding the minimum assumptions that must be used in ...

Automated Underwriting System

A particular computerized system for doing automated underwriting. Mortgage insurers and some large ...

Lis Pendens

Notice of a pending suit; a public notice given to prospective purchasers and any one else consideri ...

Plaintiff

Party who asserts a claim against another party in a legal proceeding. ...

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