mortgage 2

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Author:
macksgross
ID:
262672
Filename:
mortgage 2
Updated:
2014-02-18 19:25:13
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  1. COSI
    cost of saving index. one of many intrest rate indexs used to determine intrest rate adjustments on an adjustable rate mortgage,
  2. Co-signing a note
    assiming responsibility  for someone elses loan in the even that that party defaults. a risk not to be taken lightly. see the hazards of co signing..
  3. dual index mortgage
    a mortgage on which the intrest rate  is adjustable based on an intrest rate index. an the monthly payment adjusts based on a wage and salary index
  4. discretionary arm
    an adjustable rate mortgage on which the lender has the right to change the intrest rate at any time subject only to advance notice. Discretionary ARMs are found abroad not in the US.
  5. documentation requirements
    the set of lender requirments that specify how information about loan applicants income and assets must be provided. and how it will be used by the lender
  6. equity
    in connection with a home the difference between the value of the home and the balance of outstanding mortgage loans on that home.

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