Tag: Mortgages
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Payment Cap
Payment Cap in the United States Payment Cap in Mortgage Law In the field of mortgage refinancing, a concept of Payment Cap may be the following: A limit on the amount that your monthly mortgage payment on a loan may change, usually a percentage of the loan. The limit can be applied each time […]
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Annual Percentage Rate
Annual Percentage Rate in United States Annual Percentage Rate Definition Apr in this legal EncyclopediaAnnual Percentage Rate definition in the Law Dictionary Annual Percentage Rate in Foreign Legal Encyclopedias LinkDescription Annual Percentage Rate, Annual Percentage Rate in the World […]
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Points
Points in the United States Points (also Called Discount Points) in Mortgage Law In the field of mortgage refinancing, a concept of Points (also Called Discount Points) may be the following: One point is equal to 1 percent of the principal amount of a mortgage loan. For example, if a mortgage […]
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Appraisal Fee
Appraisal Fee in the United States Appraisal Fee in Mortgage Law In the field of mortgage refinancing, a concept of Appraisal Fee may be the following: The charge for estimating the value of property offered as security. Appraisal Fee in Mortgage Law In the field of mortgage refinancing, a […]
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Application Fee
Application Fee in the United States Application Fee in Mortgage Law In the field of mortgage refinancing, a concept of Application Fee may be the following: Fees that are charged when you apply for a loan or other credit. These fees may include charges for property appraisal and a credit […]
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Negative Amortization
Negative Amortization in United States Negative Amortization Definition Capitalized Interest in this Legal EncyclopediaCapitalized Interest definition in the Law Dictionary Negative Amortization in Foreign Legal Encyclopedias LinkDescription Negative Amortization, Negative Amortization in […]
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Private Mortgage Insurance
Private Mortgage Insurance (PMI) in the United States In Plain-English Law Private Mortgage Insurance as defined by Nolo’s Encyclopedia of Everyday Law (p. 437-455):(PMI) Insurance that reimburses a mortgage lender if the buyer defaults on the loan and the foreclosure sale price is less […]
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Mortgage Electronic Registration Systems
Mortgage Electronic Registration Systems (MERS) in the United States Mortgage Electronic Registration Systems (MERS) by Thomas Brom (2013) When you get your pocket picked by a real pro, sometimes all you can do is appreciate the artistry. Such, apparently, is the case with MERS, a […]