home equity loan
91Property discrimination — In today’s world, housing is more than just shelter; it is the largest asset that people have and the largest predictor of future success. Many do not make the connection between housing, education, and employment. Housing is the source of wealth …
92interest — in·ter·est / in trəst; in tə rəst, ˌrest/ n [probably alteration of earlier interesse, from Anglo French, from Medieval Latin, from Latin, to be between, make a difference, concern, from inter between, among + esse to be] 1: a right, title, claim …
93Reverse Mortgage — A type of mortgage in which a homeowner can borrow money against the value of his or her home. No repayment of the mortgage (principal or interest) is required until the borrower dies or the home is sold. After accounting for the initial mortgage …
94eq·ui·ty — /ˈɛkwəti/ noun, pl ties 1 [noncount] formal : fairness or justice in the way people are treated In making these decisions we should be governed by the principle of equity. 2 finance 2 a [noncount] : the value of a piece of property (such …
95Consumer lending — (also called retail lending) refers to making a wide range of secured and unsecured loans to consumers for consumable items such as a car, boat, manufactured home, home equity loan, home equity line of credit, signature loan, signature line of… …
96Consumer Credit Delinquencies Bulletin — A quarterly newsletter targeted to CEOs, senior bank executives and loan officers based on a quarterly survey that tracks closed end consumer loans across 300 U.S. banks to help banks evaluate their loan portfolios and compare themselves to their …
97Right Of Rescission — A right under federal law set forth by the Truth in Lending Act that gives a borrower the right to cancel a home equity loan or line of credit with a new lender, or to cancel a refinance transaction done with another lender other than the current …
98Cover — The purchase of a contract to offset a previously established short position. The New York Times Financial Glossary * * * ▪ I. cover cov‧er 1 [ˈkʌvə ǁ ər] noun [uncountable] 1. INSURANCE insurance against losing something or suffering damage,… …
99cover — Used to indicate the repurchase of previously sold contracts as, he covered his short position. Short covering is synonymous with liquidating a short position or evening up a short position. The CENTER ONLINE Futures Glossary The amount above… …
100Title search — A title search is a process that is performed to determine the answers to two questions. *Does the seller have a saleable interest in the property? *Do any liens exist on the property which need to be paid off at closing (mortgages, back taxes,… …
