Mortgaged - Law Dictionary Search Results
original principal balance
original principal balance the total principal owed on a mortgage prior to any payments being made. Source: U.S. Department of Housing and Urban Development
obligation
521 N.W.2d 366 (1994)"] 2 : a debt security (as a corporate or government bond) see also collateralized mortgage obligation 3 : what one is obligated to do, satisfy, or fulfill: as a : a commitment to
note
: a note containing a confession of judgment collateral note : a note secured esp. by a collateral mortgage and pledged to secure an obligation of which a hand note usually serves as evidence demand note :
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nonperforming asset
nonperforming asset an asset such as a mortgage that is not currently accruing interest or which interest is not being paid. Source: U.S. Department of Housing
nondischargeable debt
nondischargeable debt A debt that cannot be eliminated in bankruptcy. Examples include a home mortgage, debts for alimony or child support, certain taxes, debts for most government funded or guaranteed educational loans or
non-recourse
on default only out of the particular collateral given and not out of the debtor's other assets [a mortgage] [a creditor] compare recourse
no cash out refinance
no cash out refinance a refinance of an existing loan only for the amount remaining on the mortgage. The borrower does not get any cash against the equity of the home. Also called a "rate and
ne varietur
be changed used as an inscription on notarized documents esp. that are evidence of an encumbrance (as a mortgage)
inscribe
inscribe in·scribed in·scrib·ing : to set down in writing (as the terms of a mortgage) to create a lasting public record in·scrip·tion n
movable
or moveable n : an item of movable property ;also : a right or interest (as a chattel mortgage) in an item of movable property [bonds and annuities are incorporeal s] often used in pl. compare immovable
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