Subprime mortgage
Subprime mortgage When lenders use the term, they generally mean a loan program for borrowers who do not qualify for a prime loan, often with […]
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Short sale
Short sale A short sale is a sale of your home for less than what you owe on your mortgage. A short sale is an […]
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Shared appreciation mortgage
Shared appreciation mortgage Under a shared appreciation mortgage, you agree to give your lender a share of any increase in the value of your home.
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Seller financing
Seller financing Seller financing is a loan that the seller of your home makes to you.
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Security interest
Security interest The security interest is what lets the lender foreclose if you don’t pay back the money you borrowed.
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Second mortgage
Second mortgage A second mortgage or junior lien is a loan you take out using your house as collateral while you still have another loan […]
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Right of rescission
Right of rescission The right of rescission refers to the right of a consumer to cancel certain types of loans. If you are buying a […]
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Reverse mortgage
Reverse mortgage A reverse mortgage allows homeowners age 62 or older to borrow against their home equity. It is called a “reverse” mortgage because, instead […]
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Repayment plan
Repayment plan A repayment plan is a structured way to make up your missed mortgage loan payments over a certain period of time. This is […]
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