Refinancing - Law Dictionary Search Results
refinancing
Matched in: Term refinancing
interest
on debt that is secured by one's residence and that was incurred for the acquisition, construction, improvement, or refinancing of the residence or through a home equity loan sim·ple interest : interest computed on the principal of
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
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predatory lending
a mortgage loan to someone who does not have the ability to repay. It also pertains to repeated refinancing of a loan charging high interest and fees each time. Source: U.S. Department of Housing and Urban Development
balloon loan or mortgage
time (usually 5, 7, or 10) years; after that time period elapses, the balance is due or is refinanced by the borrower. Source: U.S. Department of Housing and Urban Development
mortgage acceleration clause
clause is usually triggered if the home is sold, title to the property is changed, the loan is refinanced or the borrower defaults on a scheduled payment. Source: U.S. Department of Housing and Urban Development
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