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Mortgage glossary
Whether you are buying a home or refinancing, applying for a mortgage is a big step. Use our mortgage glossary to help you through the process. Our comprehensive glossary of mortgage loan terms is even used by loan officers and real estate professionals. Bookmark our mortgage glossary as a quick mortgage definitions and vocabulary reference. |
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- Rate
How much a borrower pays for the use of money.
- Regulation Z
A rule, enforced by the Federal Reserve Board and implementing the Truth-in-Lending Act, that requires lenders to disclose all credit-related costs including the annual percentage rate.
- Remaining balance
Unpaid principal on a loan.
- Remaining term
The time it will take to pay off the rest of an installment loan as scheduled.
- Right of rescission
Under the Truth-in-Lending Act, borrowers may change their minds about car loans or certain home equity loans within three days.
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| National
mortgage rates |
| 11/21/2009 4:58:07 AM
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