Search results for: “mortgage”
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Credit Line Reverse Mortgage
Concept of Credit Line Reverse Mortgage in the context of Real Property A short definition of Credit Line Reverse Mortgage: A maximum amount is established as a line of credit. The borrower can write checks up to this amount. This loan allows repayment and reborrowing during the life of the […]
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Mortgage Revenue Bonds
Concept of Mortgage Revenue Bonds in the context of Real Property A short definition of Mortgage Revenue Bonds: Bonds sold on a state or local level (tax exempt) to finance real estate sales, construction, or refurbishing. Used in many instances to create affordable housing.
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Community Home Improvement Mortgage
Concept of Community Home Improvement Mortgage in the context of Real Property A short definition of Community Home Improvement Mortgage: A loan for low to moderate income buyers to borrow more than the usual 80% loan to value when a portion of the funds will be used to improve or make repairs […]
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Extension of Mortgage
Extension of Mortgage in the context of Real Property See: Extension in this legal Dictionary.
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Biweekly Accelerated Mortgage
Concept of Biweekly Accelerated Mortgage in the context of Real Property A short definition of Biweekly Accelerated Mortgage: A mortgage repaid by biweekly payments. A biweekly payment is equal to one-half the regular monthly payment. This reduced payment is then paid biweekly or 26 times per […]
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Improvement Mortgage Bond
Concept of Improvement Mortgage Bond in the context of Real Property A short definition of Improvement Mortgage Bond: A bond to finance improvements by a business which is secured by a general mortgage.
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Mortgage Insurance Premium
Concept of Mortgage Insurance Premium (mip) in the context of Real Property A short definition of Mortgage Insurance Premium (mip): The amount paid for FHA mortgage insurance. When paid to a private company, it is commonly referred to as Private Mortgage Insurance (PMI).
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Mortgage Insurance Premium
Concept of Mortgage Insurance Premium (mip) in the context of Real Property A short definition of Mortgage Insurance Premium (mip): The amount paid for FHA mortgage insurance. When paid to a private company, it is commonly referred to as Private Mortgage Insurance (PMI).
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Variable Rate Mortgage
Variable Rate Mortgage in the context of Real Property See: Adjustable Mortgage Loan in this legal Dictionary.
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Variable Rate Mortgage
Variable Rate Mortgage in the context of Real Property See: Adjustable Mortgage Loan in this legal Dictionary.
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Multifamily Mortgage
Concept of Multifamily Mortgage in the context of Real Property A short definition of Multifamily Mortgage: A loan secured by a mortgage on a residence consisting of more than four units.
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Blanket Mortgage
See also One mortgage (in U.S. law) on… (Read more)…
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Blanket Mortgage
See also One mortgage (in U.S. law) on… (Read more)…
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Senior Mortgage
Concept of Senior Mortgage in the context of Real Property A short definition of Senior Mortgage: The mortgage with higher priority than the mortgage to which it is compared. Example: A first (in time) mortgage would be senior to a second (in time) mortgage. A second mortgage senior to a […]
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Real Estate Mortgage Investment Conduit
Concept of Real Estate Mortgage Investment Conduit (remic) in the context of Real Property A short definition of Real Estate Mortgage Investment Conduit (remic): Created by the Tax Reform Act Of 1986, the Conduit is a vehicle through which mortgage backed securities can be issued.