Mortgaged - Law Dictionary Search Results
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,
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
loan servicer
loan servicer the company that collects monthly mortgage payments and disperses property taxes and insurance payments. Loan servicers also monitor nonperforming loans, contact delinquent borrowers, and
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modification
modification when a lender agrees to modify the terms of a mortgage without refinancing the loan. Source: U.S. Department of Housing and Urban Development
money
money pl: moneys or: mon·ies [mə-nēz] 1 : an accepted or authorized medium of exchange ;esp : coinage or negotiable paper issued as legal tender by a government 2 a : assets or compensation in the...
mortgagor
mortgagor : a person who mortgages property
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
ne varietur
be changed used as an inscription on notarized documents esp. that are evidence of an encumbrance (as a mortgage)
negative amortization
amortization means that monthly payments are large enough to pay the interest and reduce the principal on your mortgage. Negative amortization occurs when the monthly payments do not cover all of the interest cost. The interest cost
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
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