Card Set Information
cost of saving index. one of many intrest rate indexs used to determine intrest rate adjustments on an adjustable rate mortgage,
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..
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
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.
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
in connection with a home the difference between the value of the home and the balance of outstanding mortgage loans on that home.