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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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Qualified Written Request (QWR)
Qualified Written Request (QWR) A Qualified Written Request, or QWR, is written correspondence that you or someone acting on your behalf can send to your […]
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Qualified mortgage
Qualified mortgage A Qualified Mortgage is a category of loans that have certain, more stable features that help make it more likely that you’ll be […]
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Property taxes
Property taxes Property taxes are taxes charged by local jurisdictions, typically at the county level, based upon the value of the property being taxed. Often, […]
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Prepayment penalty
Prepayment penalty A prepayment penalty is a fee that some lenders charge if you pay off all or part of your mortgage early. If you […]
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