Mortgage - Law Dictionary Search Results
fha
fha Federal Housing Administration; established in 1934 to advance homeownership opportunities for all Americans; assists homebuyers by providing mortgage insurance to lenders to cover most losses that may occur when a borrower defaults; this encourages lenders to
file
financing statement filed with the Secretary of State] [filing a notice of appeal] ;also : record [filed a mortgage in the Registry of Deeds] NOTE: In nearly all cases, a document is deemed to be filed when
fixed rate
fixed rate : a rate (as of interest) that stays the same [a mortgage with a fixed rate]
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foreclose
fors outside + clore to close] vt : to subject to foreclosure proceedings vi : to foreclose a mortgage or other security interest compare repossess, seize
tacit
than express [a admission] 2 in the civil law of Louisiana : arising by operation of law [a mortgage] tac·it·ly adv
front end ratio
front end ratio a percentage comparing a borrower's total monthly cost to buy a house (mortgage principal and interest, insurance, and real estate taxes) to monthly income before deductions. Source: U.S. Department of Housing and Urban...
guaranty fee
guaranty fee payment to FannieMae from a lender for the assurance of timely principal and interest payments to MBS (Mortgage Backed Security) security holders. Source: U.S. Department of Housing and Urban Development
encumber
encumber also in·cum·ber [in-kəm-bər] vt -bered -ber·ing : to burden with a claim (as a mortgage or lien) [ed the land with a mineral lease]
help
home maintenance; in most cases, completion of the program may entitle the homebuyer to a reduced initial FHA mortgage insurance premium-from 2.25% to 1.75% of the home purchase price. Source: U.S. Department of Housing and Urban Development
indenture
security (as a debenture or other bond) is issued ;specif in bankruptcy law : a document (as a mortgage or deed of trust) under which there is outstanding security constituting a claim against a debtor, a claim
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