Learn how to read a credit report Credit risk The likelihood that a borrower will pay their obligations as agreed.
Curtailment A payment that reduces the principal balance of a loan.
Credit bureau An organization that gathers, records, updates and stores financial and public local sex las vegas records woman looking for a winemaker of individuals who have been granted credit and provides this information to lenders and other authorized users for a fee.Bridge loan A type of mortgage financing between the termination of one loan and the start of another loan.Recording A charge for a public official (typically a Registrar of Deeds or County Clerk) noting in the public record the terms of a legal document affecting title to real property such as a deed, a security instrument, a satisfaction of mortgage or an extension.Used to determine the total available equity when considering the appraised value of the property less total combined or outstanding liens.Some closing costs are not treated as finance charges.Department of Housing and Urban Development.It provides lower interest and lower monthly payments at the beginning but may adjust at the next adjustment period.Escrow Funds deposited with a third party, to be held until a specific date is reached and/or a specific condition is met.A heloc is often used for home improvements, debt consolidation or other major expenses.Generally, the payment change date occurs in the month immediately after the interest rate adjustment date.Also used in connection with decisions related to purchasing discount points on a mortgage.
During the loan approval process, many lenders require reserves (typically the equivalent of 2 monthly mortgage payments) to be verified.
Account termination fee, a fee that may be charged if you pay in full and terminate your home equity line of credit during the first 5 years.
Thus, investors should inquire, before buying any fixed-income securities, whether the bond is callable or not.