Mortgaged - Law Dictionary Search Results
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 :
note rate
note rate the interest rate stated on a mortgage note. 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
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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
paraph
other required elements vt in the civil law of Louisiana : to affix a paraph to [ed the mortgage] ;also : to include (as particular words) in a paraph
partial claim
allows a borrower, with help from a lender, to get an interest-free loan from HUD to bring their mortgage payments up to date. Source: U.S. Department of Housing and Urban Development
partial payment
partial payment a payment that is less than the total amount owed on a monthly mortgage payment. Normally, lenders do not accept partial payments. The lender may make exceptions during times of difficulty. Contact
predatory lending
predatory lending abusive lending practices that include a mortgage loan to someone who does not have the ability to repay. It also pertains to repeated refinancing of
purchase
money or giving other valuable consideration ;specif : to take (property) by a voluntary transaction (as a sale, mortgage, pledge, lien, or gift) that creates an interest and that is governed by the Uniform Commercial Code see
savings and loan association
organized to hold savings of members in the form of dividend-bearing shares and to invest chiefly in home mortgage loans
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