Same as term housing expense. The sum of the monthly mortgage payment,
hazard insurance, property taxes, and homeowner association fees. Housing expense is sometimes
referred to as PITI, ...
A provision of a loan contract stipulating that if the property is sold the loan balance must be repaid. A mortgage containing a due-on-sale clause is not assumable. This prevents a home ...
The interest rate used to calculate the mortgage payment. The interest rate and the
payment rate are often the same, but they need not be. They must be the same if the payment is fully ...
The amount the borrower is obliged to pay each period, including
interest, principal, and mortgage insurance, under the terms of the mortgage contract. Paying less
than the scheduled ...
Refinancing that omits some of the standard risk control measures and is
therefore quicker and less costly. The rationale for streamlined refinancing is that, while it is an
entirely new ...
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 ...
Deceptive practices used by mortgage loan providers and other
participants in the mortgage process. Scams by Loan Providers: Lenders and mortgage brokers may
employ a number of tricks ...
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 ...
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 ...
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 ...
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 ...
The time is here: you decided you will buy a home. Congratulations!
But soon after you get motivated to do, conscience kicks in and makes you ask yourself: how much income do I need to buy ...
Discover your potential monthly savings by combining your bills into a single source. Eliminate high interest rate credit card and installment loans with a tax deductible (consult you tax ...
You saw a property you love and want to buy it, but you have no money to do that. So you ask us how do you buy a house with no money.
Well, that’s a funny question… if you ...
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. ...
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