advance mortgage
11Advance-fee fraud — African sting An advance fee fraud is a confidence trick in which the target is persuaded to advance sums of money in the hope of realizing a significantly larger gain.[1] Among the variations on this type of scam are the Nigerian Letter (also… …
12Mortgage Indemnity Guarantee — A Mortgage Indemnity Guarantee (MIG) is an insurance policy designed to protect the lender (mortgagee) against loss in the event of defaulting and ceasing to repay the mortgage. The policy may be insisted on by the lender at the start of the loan …
13Advance Commitment — A promise or agreement to take some future action. For example, a promise by a buyer to purchase goods at a price set beforehand is an advance commitment. In financial markets, parties may make an advance commitment to sell an asset before they… …
14mortgage — mort•gage [[t]ˈmɔr gɪdʒ[/t]] n. v. gaged, gag•ing 1) lawg bus a conveyance of an interest in property as security for the repayment of money borrowed 2) bus the deed by which such a transaction is effected 3) bus the rights conferred by it, or… …
15Annuity In Advance — An amount of money that is regularly paid at the beginning of a term. Rent is the classic example of an annuity in advance because it is a sum of money paid at the beginning of the month to cover the 30 days to follow. An annuity in advance is… …
16Continuous-repayment mortgage — Analogous to continuous compounding, a continuous annuity[1][2] is an ordinary annuity in which the payment interval is narrowed indefinitely. A (theoretical) continuous repayment mortgage is a mortgage loan paid by means of a continuous annuity …
17Fixed rate mortgage — A fixed rate mortgage (FRM) is a 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. Other forms of mortgage loan include interest only… …
18Future Advance — A clause in a mortgage which enables the lender to advance funds after the loan closing. The initial agreement of the loan remains intact in that no additional collateral is required, and no refinancing is necessary. Future advance can refer to a …
19further advance — A second or subsequent loan of money to a mortgagor by a mortgagee, either upon the same security as the original loan was advanced upon, or an additional security. Equity considers the arrears of interest on a mortgage security converted into… …
20further advance — A second or subsequent loan of money to a mortgagor by a mortgagee, either upon the same security as the original loan was advanced upon, or an additional security. Equity considers the arrears of interest on a mortgage security converted into… …
