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Mortgage loan

Index Mortgage loan

A mortgage loan, or simply mortgage, is used either by purchasers of real property to raise funds to buy real estate, or alternatively by existing property owners to raise funds for any purpose, while putting a lien on the property being mortgaged. [1]

160 relations: Adjustable-rate mortgage, Amortization, Amortization (business), Amortization calculator, Amortization schedule, Annual percentage rate, Annuity, Asset-backed security, Assignment (law), Bali, Balloon payment mortgage, Bank, Bank of England, Bankruptcy, Biweekly mortgage, Blanket loan, Bond (finance), Bridge loan, Building society, Bullet loan, Buy to let, Canada Mortgage and Housing Corporation, Civil law (legal system), Collateral (finance), Commentaries on the Laws of England, Commercial lender (U.S.), Commercial mortgage, Compound interest, Consumer protection, Conveyancing, Covered bond, Credit score, Credit union, Creditor, Debt-to-income ratio, Debtor, Deed, Denmark, Deposit account, Discount points, Easement, Economic rent, EMortgages, Encumbrance, Endowment mortgage, Equated monthly installment, Equity loan, Equity release, European Union, Fannie Mae, ..., Federal government of the United States, Federal Housing Administration, Fee simple, FHA insured loan, Financial Conduct Authority, Financial crisis of 2007–2008, Financial institution, Financial Services Authority, Fixed-rate mortgage, Flexible mortgage, Floating interest rate, Foreclosure, Foreign currency mortgage, Foreign exchange risk, Foreign national mortgage, Freddie Mac, George Soros, Germany, Government National Mortgage Association, Graduated payment mortgage loan, Hard money loan, Hire purchase, Home equity, Home insurance, Hypothec, India, Individual Savings Account, Insolvency, Interest, Interest rate, Interest rate risk, Interest-only loan, Investor, Islam, Islamic banking and finance, Jim Flaherty, Jumbo mortgage, Law French, Legal professions in England and Wales, Lien, Loan, Loan servicing, Loan-to-value ratio, Location Efficient Mortgage, Mechanic's lien, Middle Ages, Mortgage assumption, Mortgage industry of Denmark, Mortgage insurance, Mortgage investment corporation, Mortgage law, Mortgage note, Mortgage origination, Mortgage-backed security, National Mortgage Crisis of the 1930s, Negative amortization, Netherlands, No income, no asset, Nonrecourse debt, Office of the Superintendent of Financial Institutions, Owner-occupancy, Package loan, Participation mortgage, Passive income, Pension fund, Perfection (law), Personal Equity Plan, Pfandbrief, Portfolio (finance), Pre-approval, Pre-qualification (lending), Predatory lending, Prepayment of loan, Promissory note, Property law, Prudential Regulation Authority (United Kingdom), Real property, Refinancing, Remortgage, Repayment mortgage, Repossession, Reverse mortgage, Right of redemption, Savings and loan crisis, Secured loan, Securitization, Security (finance), Security agreement, Security interest, Seller financing, Shared appreciation mortgage, Sharia, Stamp duty, Standard form contract, State-owned enterprise, Subprime lending, Subprime mortgage crisis, The New York Times International Edition, The Wall Street Journal, Time value of money, UK mortgage terminology, United Kingdom, United Nations, United Nations Economic Commission for Europe, United States Department of the Treasury, United States Department of Veterans Affairs, VA loan, Wraparound mortgage, Yield curve, 2010 United States foreclosure crisis. Expand index (110 more) »

Adjustable-rate mortgage

A variable-rate mortgage, adjustable-rate mortgage (ARM), or tracker mortgage is a mortgage loan with the interest rate on the note periodically adjusted based on an index which reflects the cost to the lender of borrowing on the credit markets.

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Amortization (or amortisation) is paying off an amount owed over time by making planned, incremental payments of principal and interest.

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Amortization (business)

In business, amortization refers to spreading payments over multiple periods.

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Amortization calculator

An amortization calculator is used to determine the periodic payment amount due on a loan (typically a mortgage), based on the amortization process.

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Amortization schedule

An amortization schedule is a table detailing each periodic payment on an amortizing loan (typically a mortgage), as generated by an amortization calculator.

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Annual percentage rate

The term annual percentage rate of charge (APR), corresponding sometimes to a nominal APR and sometimes to an effective APR (or EAPR), is the interest rate for a whole year (annualized), rather than just a monthly fee/rate, as applied on a loan, mortgage loan, credit card, etc.

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An annuity is a series of payments made at equal intervals.

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Asset-backed security

An asset-backed security (ABS) is a security whose income payments and hence value are derived from and collateralized (or "backed") by a specified pool of underlying assets.

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Assignment (law)

An assignment is a legal term used in the context of the law of contract and of real estate.

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Bali (Balinese:, Indonesian: Pulau Bali, Provinsi Bali) is an island and province of Indonesia with the biggest Hindu population.

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Balloon payment mortgage

A balloon payment mortgage is a mortgage which does not fully amortize over the term of the note, thus leaving a balance due at maturity.

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A bank is a financial institution that accepts deposits from the public and creates credit.

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Bank of England

The Bank of England, formally the Governor and Company of the Bank of England, is the central bank of the United Kingdom of Great Britain and Northern Ireland and the model on which most modern central banks have been based.

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Bankruptcy is a legal status of a person or other entity that cannot repay debts to creditors.

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Biweekly mortgage

A Biweekly mortgage is a type of mortgage loan where payments are made every two weeks rather than monthly.

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Blanket loan

A blanket loan, or blanket mortgage, is a type of loan used to fund the purchase of more than one piece of real property.

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Bond (finance)

In finance, a bond is an instrument of indebtedness of the bond issuer to the holders.

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Bridge loan

A bridge loan is a type of short-term loan, typically taken out for a period of 2 weeks to 3 years pending the arrangement of larger or longer-term financing.

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Building society

A building society is a financial institution owned by its members as a mutual organization.

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Bullet loan

In banking and finance, a bullet loan is a loan where a payment of the entire principal of the loan, and sometimes the principal and interest, is due at the end of the loan term.

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Buy to let

Buy-to-let is a British phrase referring to the purchase of a property specifically to let out, that is to rent it out.

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Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation (CMHC) is a Crown corporation of the Government of Canada.

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Civil law (legal system)

Civil law, civilian law, or Roman law is a legal system originating in Europe, intellectualized within the framework of Roman law, the main feature of which is that its core principles are codified into a referable system which serves as the primary source of law.

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Collateral (finance)

In lending agreements, collateral is a borrower's pledge of specific property to a lender, to secure repayment of a loan.

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Commentaries on the Laws of England

The Commentaries on the Laws of England are an influential 18th-century treatise on the common law of England by Sir William Blackstone, originally published by the Clarendon Press at Oxford, 1765–1769.

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Commercial lender (U.S.)

In the United States a commercial lender offers loans backed by hard collateral.

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Commercial mortgage

A commercial mortgage is a mortgage loan secured by commercial property, such as an office building, shopping center, industrial warehouse, or apartment complex.

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Compound interest

Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on interest.

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Consumer protection

In regulatory jurisdictions that provide for this (a list including most or all developed countries with free market economies) consumer protection is a group of laws and organizations designed to ensure the rights of consumers, as well as fair trade, competition, and accurate information in the marketplace.

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In law, conveyancing is the transfer of legal title of real property from one person to another, or the granting of an encumbrance such as a mortgage or a lien.

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Covered bond

Covered bonds are debt securities issued by a bank or mortgage institution and collateralised against a pool of assets that, in case of failure of the issuer, can cover claims at any point of time.

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Credit score

A credit score is a numerical expression based on a level analysis of a person's credit files, to represent the creditworthiness of an individual.

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Credit union

A credit union is a member-owned financial cooperative, controlled by its members and operated on the principle of people helping people, providing its members credit at competitive rates as well as other financial services.

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A creditor is a party (for example, person, organization, company, or government) that has a claim on the services of a second party.

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Debt-to-income ratio

A debt income ratio (often abbreviated DTI) is the percentage of a consumer's monthly gross income that goes toward paying debts.

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A debtor is an entity that owes a debt to another entity.

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A deed (anciently "an evidence") is any legal instrument in writing which passes, affirms or confirms an interest, right, or property and that is signed, attested, delivered, and in some jurisdictions, sealed.

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Denmark (Danmark), officially the Kingdom of Denmark,Kongeriget Danmark,.

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Deposit account

A deposit account is a savings account, current account or any other type of bank account that allows money to be deposited and withdrawn by the account holder.

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Discount points

Discount points, also called mortgage points or simply points, are a form of pre-paid interest available in the United States when arranging a mortgage.

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An easement is a nonpossessory right to use and/or enter onto the real property of another without possessing it.

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Economic rent

In economics, economic rent is any payment to an owner or factor of production in excess of the costs needed to bring that factor into production.

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An eMortgage is an electronic mortgage where the loan documentation is created, executed, transferred and stored electronically.

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An encumbrance is a right to, interest in, or legal liability on real property that does not prohibit passing title to the property but that diminishes its value.

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Endowment mortgage

An endowment mortgage is a mortgage loan arranged on an interest-only basis where the capital is intended to be repaid by one or more (usually Low-Cost) endowment policies.

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Equated monthly installment

An equated monthly installment (EMI) is defined by Investopedia as "A fixed payment amount made by a borrower to a lender at a specified date each calendar month.

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Equity loan

United Kingdom (UK) In the UK an "Equity Loan" is the term used to describe additional borrowing, normally secured as a subsequent charge, as a top-up to the amount a home owner/purchaser can borrow from a main mortgage provider.

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Equity release

Equity release is a means of retaining use of a house or other object which has capital value, while also obtaining a lump sum or a steady stream of income, using the value of the house.

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European Union

The European Union (EU) is a political and economic union of EUnum member states that are located primarily in Europe.

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Fannie Mae

The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise (GSE) and, since 1968, a publicly traded company.

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Federal government of the United States

The federal government of the United States (U.S. federal government) is the national government of the United States, a constitutional republic in North America, composed of 50 states, one district, Washington, D.C. (the nation's capital), and several territories.

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Federal Housing Administration

The Federal Housing Administration (FHA) is a United States government agency created in part by the National Housing Act of 1934.

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Fee simple

In English law, a fee simple or fee simple absolute is an estate in land, a form of freehold ownership.

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FHA insured loan

An FHA insured loan is a US Federal Housing Administration mortgage insurance backed mortgage loan which is provided by an FHA-approved lender.

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Financial Conduct Authority

The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom, but operates independently of the UK Government, and is financed by charging fees to members of the financial services industry.

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Financial crisis of 2007–2008

The financial crisis of 2007–2008, also known as the global financial crisis and the 2008 financial crisis, is considered by many economists to have been the worst financial crisis since the Great Depression of the 1930s.

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Financial institution

Financial institutions, otherwise known as banking institutions, are corporations which provide services as intermediaries of financial markets.

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Financial Services Authority

The Financial Services Authority (FSA) was a quasi-judicial body responsible for the regulation of the financial services industry in the United Kingdom between 2001 and 2013.

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Fixed-rate mortgage

A fixed-rate mortgage (FRM), often referred to as a "vanilla wafer" mortgage loan, is a fully amortizing mortgage loan where the interest rate on the note remains the same through the term of the loan, as opposed to loans where the interest rate may adjust or "float".

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Flexible mortgage

The term flexible mortgage refers to a residential mortgage loan that offers flexibility in the requirements to make monthly repayments.

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Floating interest rate

A floating interest rate, also known as a variable or adjustable rate, refers to any type of debt instrument, such as a loan, bond, mortgage, or credit, that does not have a fixed rate of interest over the life of the instrument.

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Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan.

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Foreign currency mortgage

A foreign currency mortgage is a mortgage which is repayable in a currency other than the currency of the country in which the borrower is a resident.

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Foreign exchange risk

Foreign exchange risk (also known as FX risk, exchange rate risk or currency risk) is a financial risk that exists when a financial transaction is denominated in a currency other than that of the base currency of the company.

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Foreign national mortgage

A mortgage to a non resident is called a Foreign National Mortgage loan.

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Freddie Mac

The Federal Home Loan Mortgage Corporation (FHLMC), known as Freddie Mac, is a public government-sponsored enterprise (GSE), headquartered in Tysons Corner, Virginia.

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George Soros

George Soros, Hon (Soros György,; born György Schwartz; August 12, 1930) is a Hungarian-American investor, business magnate, philanthropist, political activist and author.

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Germany (Deutschland), officially the Federal Republic of Germany (Bundesrepublik Deutschland), is a sovereign state in central-western Europe.

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Government National Mortgage Association

The Government National Mortgage Association (GNMA), or Ginnie Mae, was established in the United States in 1968 to promote home ownership.

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Graduated payment mortgage loan

A graduated payment mortgage loan, often referred to as GPM, is a mortgage with low initial monthly payments which gradually increase over a specified time frame.

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Hard money loan

A hard money loan is a specific type of asset-based loan financing through which a borrower receives funds secured by real property.

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Hire purchase

A hire purchase (HP) or known as installment plan in the United States is an arrangement whereby a customer agrees to a contract to acquire an asset by paying an initial installment (e.g. 40% of the total) and repays the balance of the price of the asset plus interest over a period of time.

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Home equity

Home equity is the market value of a homeowner's unencumbered interest in their real property, that is, the difference between the home's fair market value and the outstanding balance of all liens on the property.

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Home insurance

Home insurance, also commonly called homeowner's insurance (often abbreviated in the US real estate industry as HOI), is a type of property insurance that covers a private residence.

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Hypothec (16th century, from Fr. hypothèque, from Lat. hypotheca, from Gk. ὐποθήκη: hypothēkē), sometimes tacit hypothec, is a term used in mixed legal systems (e.g. Scots law, South African law, Ukrainian law (Іпотека)) to refer to an express or implied non-possessory real security over corporeal movable property.

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India (IAST), also called the Republic of India (IAST), is a country in South Asia.

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Individual Savings Account

An Individual Savings Account (ISA) is a class of retail investment arrangements available to residents of the United Kingdom.

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Insolvency is the state of being unable to pay the money owed, by a person or company, on time; those in a state of insolvency are said to be insolvent.

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Interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (i.e., the amount borrowed), at a particular rate.

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Interest rate

An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited or borrowed (called the principal sum).

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Interest rate risk

Interest rate risk is the risk that arises for bond owners from fluctuating interest rates.

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Interest-only loan

An interest-only loan is a loan in which the borrower pays only the interest for some or all of the term, with the principal balance unchanged during the interest-only period.

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An investor is a person that allocates capital with the expectation of a future financial return.

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IslamThere are ten pronunciations of Islam in English, differing in whether the first or second syllable has the stress, whether the s is or, and whether the a is pronounced, or (when the stress is on the first syllable) (Merriam Webster).

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Islamic banking and finance

Islamic banking or Islamic finance (مصرفية إسلامية) or sharia-compliant finance is banking or financing activity that complies with sharia (Islamic law) and its practical application through the development of Islamic economics.

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Jim Flaherty

James Michael Flaherty, (December 30, 1949 – April 10, 2014) was Canada's federal Minister of Finance (2006–2014) and also a former provincial Minister of Finance for Ontario (2001–2002).

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Jumbo mortgage

In the United States, a jumbo mortgage is a mortgage loan that may have high credit quality, but is in an amount above conventional conforming loan limits.

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Law French

Law French is an archaic language originally based on Old Norman and Anglo-Norman, but increasingly influenced by Parisian French and, later, English.

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Legal professions in England and Wales

Legal professions in England and Wales are divided between two distinct branches under the legal system, those of solicitors and barristers.

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A lien is a form of security interest granted over an item of property to secure the payment of a debt or performance of some other obligation.

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In finance, a loan is the lending of money by one or more individuals, organizations, and/or other entities to other individuals, organizations etc.

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Loan servicing

Loan servicing is the process by which a company (mortgage bank, servicing firm, etc.) collects interest, principal, and escrow payments from a borrower.

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Loan-to-value ratio

The loan-to-value (LTV) ratio is a financial term used by lenders to express the ratio of a loan to the value of an asset purchased.

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Location Efficient Mortgage

Location Efficient Mortgage (or LEM) is a mortgage available to people who buy a home in locations where they don't need to rely on automobiles as much or at all for transportation.

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Mechanic's lien

A mechanic's lien is a security interest in the title to property for the benefit of those who have supplied labor or materials that improve the property.

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Middle Ages

In the history of Europe, the Middle Ages (or Medieval Period) lasted from the 5th to the 15th century.

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Mortgage assumption

Mortgage assumption is the conveyance of the terms and balance of an existing mortgage to the purchaser of a financed property, commonly requiring that the assuming party is qualified under lender or guarantor guidelines.

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Mortgage industry of Denmark

The mortgage industry of Denmark provides borrowers with flexible and transparent loans on conditions close to the funding conditions of capital market players.

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Mortgage insurance

Mortgage Insurance (also known as mortgage guarantee and home-loan insurance) is an insurance policy which compensates lenders or investors for losses due to the default of a mortgage loan.

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Mortgage investment corporation

Requires updating to reflect the current Income Tax Act and the growth of MICs that trade on the TSX.

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Mortgage law

A mortgage is a security interest in real property held by a lender as a security for a debt, usually a loan of money.

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Mortgage note

In the United States, a mortgage note (also known as a real estate lien note, borrower's note) is a promissory note secured by a specified mortgage loan.

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Mortgage origination

Mortgage origination, a specialized subset of loan origination, in consumer lending is the process by which a lender works with a borrower to complete a mortgage transaction, resulting in a mortgage loan.

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Mortgage-backed security

A mortgage-backed security (MBS) is a type of asset-backed security that is secured by a mortgage or collection of mortgages.

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National Mortgage Crisis of the 1930s

The National Mortgage Crisis of the 1930s was a Depression-era crisis in the United States characterized by high-default rates and soaring loan-to-value ratios in the residential housing market.

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Negative amortization

In finance, negative amortization (also known as NegAm, deferred interest or graduated payment mortgage) occurs whenever the loan payment for any period is less than the interest charged over that period so that the outstanding balance of the loan increases.

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The Netherlands (Nederland), often referred to as Holland, is a country located mostly in Western Europe with a population of seventeen million.

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No income, no asset

No income, no asset (NINA) is a term used in the United States mortgage industry to describe one of many documentation types which lenders may allow when underwriting a mortgage.

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Nonrecourse debt

Nonrecourse debt or a nonrecourse loan is a secured loan (debt) that is secured by a pledge of collateral, typically real property, but for which the borrower is not personally liable.

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Office of the Superintendent of Financial Institutions

The Office of the Superintendent of Financial Institutions (OSFI; Bureau du surintendant des institutions financières) is an independent agency of the Government of Canada reporting to the Minister of Finance created "to contribute to public confidence in the Canadian financial system".

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Owner-occupancy or home-ownership is a form of housing tenure where a person, called the owner-occupier, owner-occupant, or home owner, owns the home in which he/she lives.

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Package loan

A package loan is a real estate loan used to finance the purchase of both real property and personal property, such as in the purchase of a new home that includes carpeting, window coverings and major appliances.

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Participation mortgage

A participation mortgage or participating mortgage is a mortgage loan, or sometimes a group of them, in which two or more persons have fractional equitable interests.

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Passive income

Passive income is income resulting from cash flow received on a regular basis, requiring minimal to no effort by the recipient to maintain it.

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Pension fund

A pension fund, also known as a superannuation fund in some countries, is any plan, fund, or scheme which provides retirement income.

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Perfection (law)

In law, perfection relates to the additional steps required to be taken in relation to a security interest in order to make it effective against third parties or to retain its effectiveness in the event of default by the grantor of the security interest.

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Personal Equity Plan

In the United Kingdom a Personal Equity Plan was a form of tax-privileged investment account.

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The Pfandbrief (plural: Pfandbriefe), a mostly triple-A rated German bank debenture, has become the blueprint of many covered bond models in Europe and beyond.

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Portfolio (finance)

In finance, a portfolio is a collection of investments held by an investment company, hedge fund, financial institution or individual.

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In lending, pre-approval has two meanings: The first is that a lender, via public or proprietary information, feels that a potential borrower is completely credit worthy enough for a certain credit product, and approaches the potential customer with a guarantee that should they want that product, they would be guaranteed to get it.

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Pre-qualification (lending)

Pre-qualification is a process whereby a loan officer takes information from a borrower and makes a tentative assessment of how much the lending institution is willing to lend them.

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Predatory lending

Predatory lending is the unfair, deceptive, or fraudulent practices of some lenders during the loan origination process.

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Prepayment of loan

Prepayment is the early repayment of a loan by a borrower, in part or in full, often as a result of optional refinancing to take advantage of lower interest rates.

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Promissory note

A promissory note, sometimes referred to as a note payable, is a legal instrument (more particularly, a financial instrument and a debt instrument), in which one party (the maker or issuer) promises in writing to pay a determinate sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms.

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Property law

Property law is the area of law that governs the various forms of ownership and tenancy in real property (land as distinct from personal or movable possessions) and in personal property, within the common law legal system.

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Prudential Regulation Authority (United Kingdom)

The Prudential Regulation Authority (PRA) is a United Kingdom financial services regulatory body, formed as one of the successors to the Financial Services Authority (FSA).

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Real property

In English common law, real property, real estate, realty, or immovable property is land which is the property of some person and all structures (also called improvements or fixtures) integrated with or affixed to the land, including crops, buildings, machinery, wells, dams, ponds, mines, canals, and roads, among other things.

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Refinancing is the replacement of an existing debt obligation with another debt obligation under different terms.

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A remortgage (known as refinancing in the United States) is the process of paying off one mortgage with the proceeds from a new mortgage using the same property as security.

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Repayment mortgage

A repayment mortgage is a term generally used in the UK to describe a mortgage in which the monthly repayments consist of repaying the capital amount borrowed as well as the accrued interest, so that the amount borrowed decreases throughout the term and by the end of the loan term has been fully repaid.

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Repossession is a term used to describe when.

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Reverse mortgage

A reverse mortgage is a type of home loan for older homeowners that requires no monthly mortgage payments.

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Right of redemption

The right of redemption, in the law of real property, is the right of a debtor whose real property has been foreclosed upon and sold to reclaim that property if they are able to come up with the money to repay the amount of the debt.

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Savings and loan crisis

The savings and loan crisis of the 1980s and 1990s (commonly dubbed the S&L crisis) was the failure of 1,043 out of the 3,234 savings and loan associations in the United States from 1986 to 1995: the Federal Savings and Loan Insurance Corporation (FSLIC) closed or otherwise resolved 296 institutions from 1986 to 1989 and the Resolution Trust Corporation (RTC) closed or otherwise resolved 747 institutions from 1989 to 1995.

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Secured loan

A secured loan, is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan.

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Securitization is the financial practice of pooling various types of contractual debt such as residential mortgages, commercial mortgages, auto loans or credit card debt obligations (or other non-debt assets which generate receivables) and selling their related cash flows to third party investors as securities, which may be described as bonds, pass-through securities, or collateralized debt obligations (CDOs).

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Security (finance)

A security is a tradable financial asset.

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Security agreement

A security agreement, in the law of the United States, is a contract that governs the relationship between the parties to a kind of financial transaction known as a secured transaction.

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Security interest

A security interest is a legal right granted by a debtor to a creditor over the debtor's property (usually referred to as the collateral) which enables the creditor to have recourse to the property if the debtor defaults in making payment or otherwise performing the secured obligations.

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Seller financing

Seller financing is a loan provided by the seller of a property or business to the purchaser.

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Shared appreciation mortgage

A shared appreciation mortgage or SAM is a mortgage in which the lender agrees as part of the loan to accept some or all payment in the form of a share of the increase in value (the appreciation) of the property.

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Sharia, Sharia law, or Islamic law (شريعة) is the religious law forming part of the Islamic tradition.

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Stamp duty

Stamp duty is a tax that is levied on documents.

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Standard form contract

A standard form contract (sometimes referred to as a contract of adhesion, a leonine contract, a take-it-or-leave-it contract, or a boilerplate contract) is a contract between two parties, where the terms and conditions of the contract are set by one of the parties, and the other party has little or no ability to negotiate more favorable terms and is thus placed in a "take it or leave it" position.

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State-owned enterprise

A state-owned enterprise (SOE) is a business enterprise where the state has significant control through full, majority, or significant minority ownership.

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Subprime lending

In finance, subprime lending (also referred to as near-prime, subpar, non-prime, and second-chance lending) means making loans to people who may have difficulty maintaining the repayment schedule, sometimes reflecting setbacks, such as unemployment, divorce, medical emergencies, etc.

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Subprime mortgage crisis

The United States subprime mortgage crisis was a nationwide banking emergency, occurring between 2007 and 2010, that contributed to the U.S. recession of December 2007 – June 2009.

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The New York Times International Edition

The New York Times International Edition is an English-language newspaper printed at 38 sites throughout the world and sold in more than 160 countries and territories.

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The Wall Street Journal

The Wall Street Journal is a U.S. business-focused, English-language international daily newspaper based in New York City.

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Time value of money

The time value of money is the greater benefit of receiving money now rather than later.

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UK mortgage terminology

This page gives descriptions of UK mortgage terminology which can often confuse borrowers.

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United Kingdom

The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Usage is mixed with some organisations, including the and preferring to use Britain as shorthand for Great Britain is a sovereign country in western Europe.

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United Nations

The United Nations (UN) is an intergovernmental organization tasked to promote international cooperation and to create and maintain international order.

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United Nations Economic Commission for Europe

The United Nations Economic Commission for Europe (UNECE or ECE) was established in 1947 to encourage economic cooperation among its member States.

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United States Department of the Treasury

The Department of the Treasury (USDT) is an executive department and the treasury of the United States federal government.

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United States Department of Veterans Affairs

The United States Department of Veterans Affairs (VA) is a federal Cabinet-level agency that provides near-comprehensive healthcare services to eligible military veterans at VA medical centers and outpatient clinics located throughout the country; several non-healthcare benefits including disability compensation, vocational rehabilitation, education assistance, home loans, and life insurance; and provides burial and memorial benefits to eligible veterans and family members at 135 national cemeteries.

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VA loan

A VA loan is a mortgage loan in the United States guaranteed by the United States Department of Veterans Affairs (VA).

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Wraparound mortgage

A wraparound mortgage, more commonly known as a "wrap", is a form of secondary financing for the purchase of real property.

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Yield curve

In finance, the yield curve is a curve showing several yields or interest rates across different contract lengths (2 month, 2 year, 20 year, etc....) for a similar debt contract.

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2010 United States foreclosure crisis

The 2010 United States foreclosure crisis, sometimes referred to as Foreclosure-gate or Foreclosuregate, refers to a widespread epidemic of improper foreclosures initiated by large banks and other lenders.

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[1] https://en.wikipedia.org/wiki/Mortgage_loan

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