Terms in this set (20)
Purchase Money Mortgage
Before- Tax Flow
After- tax flow
A silent second
fixed rate mortgage
personal judgement levied against defaulted borrow when the foreclose sale does not pay the debt in full.
the defaulted borrower right to redeem the property abetter foreclosure
law that requires the disclose of the true cost of credit expressed as an annual percent rate
law that requires elder to give potential borrower a GFE within three business days of loan application
loan that is backed by the government
credit agains the equity in his /her property
the lender process wherein the lender and the owner agree to accept less than the current principal amount when the property is sold.
hidden structural defects not easily discovered by inspection
are easily visible when inspecting a property