Mortgaged - Law Dictionary Search Results
record
office as a record and notice of a title or interest in property [ a deed] [ a mortgage] see also recording act 3 : to cause (as sound, images, or data) to be registered on something
redeem
collateral] b : to exercise an equity of redemption in (real property) by payment in full of a mortgage debt after default but prior to a foreclosure becoming effective [a right to property prior to the actual
refinance
revise the terms of (a debt obligation) esp. in regard to interest rate or payment schedule [ a mortgage] vi : to finance something anew
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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 :
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
late payment charges
late payment charges the penalty the homeowner must pay when a mortgage payment is made after the due date grace period. Source: U.S. Department of Housing and Urban Development
loan or credit agreement
terms and conditions for your loan in addition to those contained in the promissory note, security agreement, or mortgage. Common provisions in a loan agreement include provisions regarding the lender's commitment to lend, repayment and note terms,
liability
a contingency (as a cosigner's default on a loan) fixed liability : a liability (as a bond or mortgage) that does not mature for at least one year from the date incurred or from a given date
lien
of the parties or esp. by operation of law ;specif : a security interest created esp. by a mortgage assessment lien : a lien that is on property benefiting from an improvement made by a municipality and
life cap
cap a limit on the range interest rates can increase or decrease over the life of an adjustable-rate mortgage (ARM). Source: U.S. Department of Housing and Urban Development
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