|
Home
Offers USA >>
Glossary
>>
Glossary - M
Stop foreclosure glossary
- M
Margin
An amount the lender adds to a catalog to conclude the interest
rate on adjustable rate mortgage payments.
Mortgage
A lien or claim aligned with real property given by the buyer
to the lender as protection for the money borrowed. Under
government-insured or loan-guarantee requirements, the payments
may comprise escrow amounts covering taxes, hazard insurance,
water charges, and special assessments. Mortgages generally
run from 10 to 30 years, during which the loan is to be paid
off. It’s a lien on the property that ensures the assurance
to repay a loan.
Maintenance
Activities required compensating for wear and tear of a property.
|
