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Mortgage term |
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Mortgage termThe period over which the mortgage loan is to be repaid.Mortgage term Similar MatchesSelf amortizing mortgageSelf amortizing mortgageMortgage whose entire principal is paid off in a specified period of time with regular interest and principal payments. Wraparound mortgageWraparound mortgageA loan to a buyer for the remaining balance on a seller's first mortgage and an additional amount requested by the seller. Payments on both loans are made to the lender who holds the wraparound loan. First mortgageFirst mortgageA type of mortgage that through a lien gives precedence to the lender of the first mortgage over all other lenders in case of default. First mortgageFirst mortgageA mortgage which carries priority over any subsequent mortgages if the borrower goes into default and his/her assets have to be sold to pay creditors. Second MortgageSecond MortgageA mortgage which ranks after a first mortgage in priority. Properties may have two, three, or more Mortgages, deeds of trust, or land contracts, as liens at the same time. Legal priority would determine whether they are called a first, second, third, etc. lien. Further Suggestionsadjustable rate mortgagePurchase money mortgage Index tracker mortgage Private Mortgage Insurance Council of Mortgage Lenders Guaranteed Mortgage Certificates (GMC) mortgage agreement in principle Mortgage advance Repayment mortgage All inclusive Trust Deed (wrap around mortgage) Deferred interest mortgage Mortgage cash surplus Gnma (government National Mortgage Association) Options repayment mortgage Mortgage Backed Securities Clearing Corporation (MBSCC) Secondary Mortgage Market Non status mortgage Self certification mortgage Junior mortgage Mortgage confirmation Shared appreciation mortgage Mortgage Life Insurance Bi weekly mortgage loan mortgage backed security Open end mortgage |
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