Terminologies for Alphabet E-H

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Icon Mini Profile Sam
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Post Posted: Fri Jul 22, 2005 11:24 pm    Post subject: Terminologies for Alphabet E-H
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Terms for E
  • Earnest Money
    Earnest Money is a portion of down payment paid to a seller or an escrow agent by a buyer ...

  • Encumbrance
    Encumbrance is any claim or liability appended to and binding upon the real property that ...

  • Endowment Mortgage
    Endowment Mortgage is a kind of interest only mortgage which is backed by an endowment ...

  • Eminent Domain
    Eminent Domain is the constitutional right of a government to take private property for public ...

  • Encroachment
    Encroachment is an improvement or obstruction in a property that illegally intrudes upon the ...

  • Endowment Policy
    Endowment Policy is an 'investment vehicle' for interest only mortgage.It is a long term ...

  • Equal Credit Opportunity Act (ECOA)
    ECOA or Equal Credit Opportunity Act is a Federal law introduced in 1976 to protect the ...

  • Equity
    Equity is an owner's financial position in a property. Equity is the difference between the fair ...

  • Equity Release Mortgage
    Equity Release Mortgage enables a person to enjoy the capital tied up in his property. It...

  • Escalator Clause
    Escalator Clause is a prearrangement in a contract that provides for increase or decrease ...

  • Estate
    Estate is a possessorship an individual have in real property. It is an aggregate of all the real ...

  • Eviction
    Eviction is a legal dismissal of lessee from real property by a lessor, to recover possession of ...

  • Expatriate Mortgage
    Expatriate mortgage is a type of mortgage which is used to buy property overseas. Key ...
Terms for F
  • Face Interest Rate
    Face Interest Rate is the percentage interest rate provided in the mortgage loan document...

  • Fixed Rate Mortgage
    Fixed Rate Mortgage is the most common type of mortgage in which the interest rate remains ...

  • Flexible Mortgage
    Flexible mortgage is a type of variable rate mortgage, which allows a borrower to make ...

  • Flood Certification
    Flood Certification is an inspection carried by the federal government, to determine if a ...

  • Foreign Currency Mortgage
    Foreign Currency Mortgage is a mortgage denominated in a foreign currency.This is a ...

  • Fair Credit Reporting Act
    Fair Credit Reporting Act (FCRA) is a Federal consumer protection regulation enforced ...

  • Fair Market Value
    Fair Market Value is the price at which the property would change hands between a buyer ...

  • FHA Co-insured Mortgage
    The FHA or the Federal Housing Administration approves a certain kind of mortgage program ...

  • First Mortgage
    First mortgage is a mortgage that has primary claim over the property which is kept as ....

  • Forbearance
    Forbearance is the lender's postponement in foreclosure because the borrower has made ...

  • Foreclosure
    Foreclosure is a legal process in which the lender or the seller may sell the property that is ...

  • Forfeiture
    Forfeiture is the loss of property, money or anything else of value because of violation of law ...

  • Fully Amortized ARM
    Fully Amortized ARM is an adjustable-rate mortgage (ARM) with monthly payments that are ...
Terms for G
  • Gift Letter
    Gift is a sum of money offered to a borrower by any third party to help him with funds ...

  • Good Faith Estimate
    Good Faith Estimate is one of the various disclosures which you will receive within three days ...

  • Growing Equity Mortgage
    Growing Equity Mortgage is a fixed-rate mortgage in which scheduled payments are ...

  • Global Debt Facility
    Global debt facility includes a debt issuance facility through which US dollar and foreign ...

  • Government Mortgage
    Government mortgages include the following category of mortgage loans: The mortgages ...

  • Grace Period
    Grace period refers to the time period between the due date of a mortgage payment and the ...

  • Grantor: A person who transfers interest in real property and grants ownership rights by a legal document (deed).

  • Grantee: A person who receives interest in real property as well as ownership rights on it. Depending upon state laws, a grantee may or may not have to sign on the deed.

  • Gross Monthly Income
    Gross Monthly Income is the total of all the money, goods and property earned during the ...
Terms for H
  • Habendum Clause
    Habendum Clause is a very common clause stated on deeds used to transfer ownership ...

  • Hazard Insurance
    Hazard Insurance or Hazard Property Insurance is an insurance whereby an insurer, for a ...

  • Hangout
    Hangout is the principal balance of a loan, remaining when the term of the loan is beyond the ...

  • Hard Money Mortgage
    Hard Money Mortgage is a kind of mortgage that is given in return for cash by a non ...

  • High Ratio Mortgage
    High Ratio Mortgage is a mortgage, which offers a loan amount greater than 75% of the ...

  • Home Equity Conversion Mortgage (HECM)
    The Home Equity Conversion Mortgage (HECM) is the only kind of reverse mortgage insured ...

  • Home Equity Line of Credit (HELOC)
    Saving your earnings in a bank or looking for something better? Think about ways of tapping ...

  • Home Equity Loan
    A home equity loan is a mortgage taken by keeping the home equity as the collateral. It is a ...

  • Homeowners Warranty
    A home warranty or homeowner warranty is an insurance that covers repair and replacement ...

  • Homeowners Insurance
    Homeowner's insurance or Home Insurance is an insurance policy that protects a homeowner ...

  • Housing Expense Ratio
    Housing Expense Ratio calculates how much of your gross monthly income will be used to ...

  • Housing Starts
    Housing Starts is an economic indicator prepared by the Commerce Department that ...

  • HUD
    HUD is known as the U.S. Department of Housing and Urban Development. It was established ...

  • Hybrid mortgage
    Hybrid Mortgage is a type of Mortgage, which combines the features of both fixed and ...


Last edited by Sam on Mon Aug 13, 2007 1:48 am
anonymous13

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Post Posted: Mon Apr 10, 2006 1:11 pm    Post subject: HMDA
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What is an HMDA??
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Post Posted: Mon Apr 10, 2006 1:45 pm    Post subject:
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Hi,

HMDA or Home Mortgage Disclosure Act was implemented in 1975 by Federal Reserve Board's Regulation C.

This Act requires the lenders to provide data to general public about the types of applications and the action they take on the application made at their organization each year.

Hope this information helps.
Icon Mini Profile helping_user
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Post Posted: Mon Apr 10, 2006 8:36 pm    Post subject:
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I hope this government site will help you to know much more about the disclosure act.
ROZALIND

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Post Posted: Thu Apr 13, 2006 8:42 am    Post subject: ESCROW INTEREST
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WHAT IS ESCROW INTEREST?
ROZALIND

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Post Posted: Thu Apr 13, 2006 8:45 am    Post subject: HOUSES SOLD IN MY NEIGHBORHOOD
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IS THERE A WEBSITE WHERE I CAN FIND OUT HOW MUCH HOUSE ARE BEING SOLD FOR IN MY NEIGHBORHOOD? I WOULD LIKE A DEPENDABLE SITE AND ONE THAT IS FREE
Icon Mini Profile adonis
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Post Posted: Thu Apr 13, 2006 8:50 am    Post subject: RE
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Hi, ROZALIND

Welcome to the forums

Its basicaly the interest which is calculated on escrow account balance.
Quote:

IS THERE A WEBSITE WHERE I CAN FIND OUT HOW MUCH HOUSE ARE BEING SOLD FOR IN MY NEIGHBORHOOD? I WOULD LIKE A DEPENDABLE SITE AND ONE THAT IS FREE


On this i think your should consult some local real estate agent as they can tell you the rates and prices currently prevailing in your neighbourhood. Its tought to get any website on this. Where do you stay by the way may be we get something for you.

Thanks

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Post Posted: Sat May 21, 2011 7:17 am    Post subject: ICwwryzPaMYH
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Terminology EH.. Ho-o-o-o-t Smile
Icon Mini Profile gmakerley
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Post Posted: Sat May 21, 2011 10:17 am    Post subject:
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Guest, lots of folk have no idea what lending professionals are speaking about when they use these terms. It's always useful to have a glossary somewhere that people can refer to in order to garner a better understanding of the process.

Hey, lots of loan officers wouldn't know HMDA if it bit them!

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