Real Estate Financing Principles
Help!
|
|
||||
|---|---|---|---|---|---|
| show | the clause in a mortgage or deed of trust that can be enforced to make the entire debt due immediately if the borrower defaults on an installment payment or another covenant.
🗑
|
||||
| adjustable-rate mortgage (ARM) | show 🗑
|
||||
| Alienation Clause | show 🗑
|
||||
| Amortized Loans | show 🗑
|
||||
| balloon payment loan | show 🗑
|
||||
| beneficiary | show 🗑
|
||||
| show | principal and interest loan payment
🗑
|
||||
| show | Deed that is used when a borrower has defaulted on the mortgage loan and wants to avoid a foreclosure action.
🗑
|
||||
| deed of trust | show 🗑
|
||||
| Default | show 🗑
|
||||
| deficiency judgment | show 🗑
|
||||
| show | a loan that requires a fixed amount of principal to be paid in each payment with the amount applied to interest varying as the balance is reduced
🗑
|
||||
| discount point | show 🗑
|
||||
| due-on-sale clause | show 🗑
|
||||
| show | the right to use and possess the property as if one owns it and to demand the return of the legal title when the debt is repaid.
🗑
|
||||
| Equity | show 🗑
|
||||
| equity of redemption | show 🗑
|
||||
| Foreclosure | show 🗑
|
||||
| graduated payment mortgage (GPM) | show 🗑
|
||||
| Grantee | show 🗑
|
||||
| Grantor | show 🗑
|
||||
| show | the act of pledging real property as security for payment of a loan without giving up possession of the property.
🗑
|
||||
| interest | show 🗑
|
||||
| show | the form of foreclosure used in lien theory states; court process
🗑
|
||||
| show | an older, traditional approach in mortgaging property where a two-party mortgage instrument is used as security for the debt; the borrower retains both legal and equitable title to the property.
🗑
|
||||
| Mortgage | show 🗑
|
||||
| show | A mortgagee is the lender in a mortgage loan transaction; a mortgagor is the borrower in a mortgage loan transaction.
🗑
|
||||
| show | When the debt service payment on a loan is not large enough to pay the interest due; the principal balance actually grows with each payment.
🗑
|
||||
| show | a written promise or order to pay a specific sum of money that may be transferred by endorsement or delivery. The transferee then has the original payee's right to payment.
🗑
|
||||
| prepayment penalty clause | show 🗑
|
||||
| show | written promise to repay a debt in definite installments with interest.
🗑
|
||||
| show | a document acknowledging the full repayment of a mortgage debt
🗑
|
||||
| show | a mortgage loan in which the lender, in exchange for a loan with a lower interest rate, participates in the profits (if any) the borrower receives when the property is eventually sold.
🗑
|
||||
| show | 10 day period after the auction in which the borrower can try to raise the necessary funds to redeem the property.
🗑
|
||||
| statutory right of redemption | show 🗑
|
||||
| show | A loan in which only interest is paid during the term of the loan, with the entire principal due with the final interest payment; also called a straight loan.
🗑
|
||||
| show | uses the three-party deed of trust instrument as security for the mortgage debt; the borrower conveys legal title to a trustee to hold for the lender until the debt is paid off. NC uses this theory.
🗑
|
||||
| show | charging interest in excess than the maximum rate established by state law.
🗑
|
||||
| yield | show 🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
whitwill
Popular Real Estate sets