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Chattel mortgage |
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Chattel MortgageA loan agreement that grants to the lender a lien on property other than real estate. Chattel is personal or movable property.Chattel mortgageA lien on personal property used as collateral for a loan.Chattel mortgage Similar MatchesCollateralized mortgage obligation (CMO)Collateralized mortgage obligation (CMO)A security backed by a pool of pass-through rates , structured so that there are several classes of bondholders with varying maturities, called tranches. The principal payments from the underlying pool of pass-through securities are used to retire the bonds on a priority basis as specified in the prospectus. Related: mortgage pass-through security. RemortgageRemortgageThe process of switching your mortgage loan from one lender to another without necessarily moving house. Index tracker mortgageIndex tracker mortgageThe interest rate tracks an index such as the base rate or LIBOR and often has a set percentage added to it. Non status mortgageNon status mortgageMainly for people whose income is difficult to assess using the standard method adopted by most conventional mortgage lenders. Bonuses, commission and seasonal work can cause income to vary over time or be difficult to guarantee and this may not be considered acceptable in order to get a loan. The main groups of people that opt for self-certification mortgages are: self-employed and unsalaried company directors, contract workers (increasingly common in technology-based industries), commission-based workers (often in sales, recruitment etc.), people with seasonal earnings. The interest rate you are charged will be higher to compensate the lender for the increased risk. Gnma (government National Mortgage Association) OptionsGnma (government National Mortgage Association) OptionsA method of purchasing GNMA securities through "puts" and calls." A GNMA Call Option is the right to buy GNMA securities at a specific yield for a specified time, A Put Option is the right to sell GNMA securities at a specific yield for a specified time. The buyer pays for the option and may exercise it, not exercise it, or sell it. Further Suggestionsmortgage life insuranceinterest only mortgage Mortgage application Flexible mortgage Blanket Mortgage base rate tracker mortgage Variable rate mortgages Low start mortgage Blanket mortgage Mortgage Banker Equity linked mortgage GEM (growing equity mortgage) Repayment mortgage capped rate mortgage Foreign currency mortgage Mortgage interest deduction reverse annuity mortgage Veterans Administration (VA) mortgage Federal Home Loan Mortgage Corporation (FHLMC) Growing Equity Mortgage (gem) One hundred percent mortgage Mortgagee General Mortgage Bond Mortgage Lifetime reverse mortgage |
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