Mortgage debtThe amount outstanding on your mortgage.
Balloon mortgageBalloon mortgage
A mortgage in which monthly installments are not large enough to repay the loan by the end of the term. As a result, the final payment due is the lump sum of the remaining principal.
Senior mortgage bondSenior mortgage bond
A mortgage bond which receives priority on the assets of a company over other bonds in the event of liquidation.
Commercial mortgageCommercial mortgage
A mortgage on a non residential building occupied by a business.
Growing Equity Mortgage (gem)Growing Equity Mortgage (gem)
A fixed rate, graduated payment loan allowing low beginning payments and a shorter term because of higher payments as the loan progress. Based on the theory of increasing income by the buyer and, therefore. ability to make higher future payments. When state law applies, usury laws in some states may not presently allow such loans when less than interest only payments create interest on interest.
MIG Mortgage Indemnity GuaranteeMIG Mortgage Indemnity Guarantee
This is insurance for the lender paid by the consumer in a one-off payment, on 'high' LTV mortgages. This protects the lender in the event that you default on the loan and the sale of the property is not enough to repay the amount that they are owed. Some lenders will insist you pay this if your mortgage is for as low as 75% of the value of the property, but 90% is a more common level. Some lenders will not insist on it regardless of the loan value. You can often add this fee to the loan, but be aware that you will then be paying interest on it until the loan is repaid in full.
Further SuggestionsMultifamily mortgage
Shared Appreciation Mortgage (SAM)
Commercial Mortgage Backed Securities
biweekly mortgage loan
Shared appreciation mortgage
mortgage agreement in principle
mortgage interest deduction
All inclusive Trust Deed (wrap around mortgage)
Owner Will Carry Mortgage
Interest only mortgages
graduated payment mortgage
Open End Mortgage
Index tracker mortgage
flexible mortgage account