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Mortgage Bonds |
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Mortgage BondsBonds issued by corporations, which offer first mortgages on real property of the corporation as security for the payment of the bonds.Mortgage Bonds Similar MatchesOwner Will Carry MortgageOwner Will Carry MortgageA term used to indicate that the seller is willing to take back a purchase money mortgage. Shared appreciation mortgageShared appreciation mortgageA mortgage in which a borrower pays a below normal rate of interest to the lender on the understanding that the latter shares a proportion of the appreciation of the property. Low start mortgageLow start mortgageThis is like a repayment mortgage, but with a difference. In the introductory period, only interest is paid back to the lender and not any of the capital outstanding. After this period, the repayments start in earnest. The total amount of interest and repayments over the life of the year are higher than with a normal repayment mortgage, but this sacrifice can be worth it if you need to severely restrict your outgoings during the low start period. Lehman Brothers Mortgage Backed Securities IndexLehman Brothers Mortgage Backed Securities IndexA benchmark index that includes 15- and 30-year fixed-rate securities backed by mortgage pools of the Government National Mortgage Association (GNMA), Federal Home Loan Mortgage Corporation (FHLMC), and Federal National Mortgage Association (FNMA). Self certification mortgageSelf certification 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. Further Suggestionsmortgage brokermortgage interest relief at source Secondary Mortgage Market Real Estate Mortgage Investment Conduit (REMIC) Growing Equity Mortgage (GEM) second mortgage Alternative mortgage instruments Lehman Brothers Adjustable Rate Mortgage Index first mortgage Assumable mortgage Commercial Mortgage Backed Securities Deferred interest mortgage Blanket mortgage Biweekly mortgage Mortgage cash surplus Growing Equity Mortgage (gem) Secondary mortgage market Flexible mortgage Blanket Mortgage One hundred percent mortgage Junior mortgage Closed end mortgage Mortgage incentives repayment mortgage capped rate mortgage |
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