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Mortgage arrears |
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Mortgage arrearsThe amount of back pay you owe your mortgage lender for failing to meet your mortgage requirements.Mortgage arrears Similar MatchesBi weekly mortgage loanBi weekly mortgage loanA mortgage loan on which mortgage and mortgage payments are made every half-month (total of 26 payments) as opposed to monthly payments. This results in earlier loan mortgage. Full status mortgageFull status mortgageA full status mortgage is for people who wish to make a lender aware of any previous arrears or debt problems they may have had. If they do not make the lender aware of these facts and they are latetr discovered, his could lead to all sorts of problems and the borrower could even be forced to sell the home. If you have a bad credit record some lenders will regard lending you money a high-risk activity. Many will not lend you money at all and when you can get a loan, you will undoubtedly have to pay a higher rate of interest than you would otherwise. Direct Reduction MortgageDirect Reduction MortgageAn amortized mortgage. One on which principal and interest payments are paid at the same time (usually monthly) with interest being computed on the remaining balance. Wrap Around MortgageWrap Around MortgageA second or junior mortgage with a face value of both the amount it secures and the balance due under the first mortgage. The mortgagee under the wrap-around collects a payment based on its face value and then pays the first mortgagee. It is most effective when the first has a lower interest rate than the second, since the mortgagee under the wrap-around gains the difference between the interest rates, or the mortgagor under the wrap-around may obtain a lower rate then if refinancing. Flexible mortgageFlexible mortgageA mortgage that allows borrowers to make overpayments when they have spare cash, and reduce or miss payments altogether when times are tight. Often useful for self-employed people whose income varies from one month to the next. The most flexible form of mortgage is a Current Account Mortgage (CAM), which can potentially save you money by linking your current account and mortgage together. Further SuggestionsJoint mortgagemortgage interest deduction base rate tracker mortgage Cashback mortgages Guarantee mortgage Open end mortgage reverse annuity mortgage Gnma (government National Mortgage Association) Options Mortgage pipeline risk Mortgage pool Reverse annuity mortgages (RAM) Federal Home Loan Mortgage Corporation (FHLMC) Mortgage lien Alternative mortgage instruments Mortgage Stripped mortgage backed securities (SMBS) Mortgage REIT Consolidated mortgage bond Growing Equity Mortgage (gem) Mortgage debt Lehman Brothers Mortgage Backed Securities Index First Mortgage capped rate mortgage Buy down mortgage flexible mortgage account |
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