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Mortgage debt |
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Mortgage debtThe amount outstanding on your mortgage.Mortgage debt Similar MatchesAdjustable Rate Mortgages (arms)Adjustable Rate Mortgages (arms)Mortgage loans under which the interest rate is periodically adjusted to more closely coincide with current rates. The amounts and times of adjustment are agreed to at the inception of the loan. Also called: Adjustable Rate Loans, Adjustable Mortgage Loans (AML'S), Flexible Rate Loans, Variable Rate Loans. Mortgage Life InsuranceMortgage Life InsuranceA term life insurance policy for theamount of the declining balance of a loan secured by a mortgage or deed of trust. The beneficiary under the policy is the mortgagee. In the event of death (some policies also cover disability) of the insured (mortgagor), the mortgage is paid in full. Mortgage confirmationMortgage confirmationWhen you get a written confirmation of your offer, you usually receive two things. Firstly, there will usually be some form of standard covering letter, thanking you for your hugely valued business and welcoming you into a family of customers that have their mortgage lender in common. In addition to the letter, you will receive a written mortgage confirmation. This will normally set out some of your personal details, some facts about the property, your salary details, your solicitors (if you have appointed them by this stage), and will require a signature. Real Estate Mortgage Investment Conduit (REMIC)Real Estate Mortgage Investment Conduit (REMIC)A pass-through tax entity that can hold mortgages secured by any type of real property and can issue multiple classes of ownership interests to investors in the form of pass-through certificates, bonds, or other legal forms. A financing vehicle created under the Tax Reform Act of 1986. Mortgage pipeline riskMortgage pipeline riskThe risk associated with taking applications from prospective mortgage borrowers who may opt to decline to accept a quoted mortgage rate within a certain grace period. Further SuggestionsMortgage brokerreverse mortgage Mortgagee Index tracker mortgage flexible mortgage account mortgage indemnity Government insured mortgage Fixed term reverse mortgage Remortgage Mortgagee mortgage protection All inclusive Trust Deed (wrap around mortgage) Variable rate mortgages Mortgage Broker Package mortgage Purchase money mortgage mortgage agreement in principle Federal National Mortgage Association Second mortgage lending Mortgage pipeline Secondary mortgage market Chattel mortgage Self amortizing mortgage Deferred interest mortgage Strip mortgage participation certificate (strip PC) |
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