Mortgage

Mortgage

The business of lending money for the purchase of real property which is repayed in security interest.

Industry: Banking; Real estate

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Mortgage

Acceleration

Banking; Mortgage

The right of the mortgagee (lender) to demand the immediate repayment of the mortgage loan balance upon the default of the mortgagor (borrower) or by using the right vested in the Due on Sale Clause.

VA loan

Real estate; Mortgage

A loan made by a private lender that is partially guaranteed by the Veterans Administration.

Indemnifiable tax

Banking; Mortgage

If such Tax is an Indemnifiable Tax, X will pay to Y, in addition to the payment to which Y is entitled under this Agreement, such additional amount as is necessary to ensure that the net amount ...

Blemished borrowers

Banking; Mortgage

Borrowers with one or more of the following risk factors: they can only make a very small or no down payment; they cannot fully document their income and assets; their property is something other ...

Positive contagion is the tendency during a bubble period for new players to be attracted by the profits being earned by existing players. Negative contagion is the tendency during a financial crisis ...

Bridge loan

Banking; Mortgage

A short-term loan, usually from a bank, that "bridges" the period between the closing date of a home purchase and the closing date of a home sale. Unsecured bridge loans are available if the borrower ...

Cash-out refi

Banking; Mortgage

Refinancing for an amount in excess of the balance on the old loan plus settlement costs. The borrower takes "cash-out" of the transaction. This way of raising cash is usually an alternative to ...