The Complete Dictionary of Mortgage & Lending Terms Explained Simply explains all the important financial terms you will encounter as you navigate the mortgage market. With easy-to-understand definitions, this dictionary covers everything from accrued interest to wraparound mortgages. It covers types of mortgages, parts of loan agreements, types of insurance, and even home-inspection terms.
This resource uses simple language to describe the many concepts it covers, ensuring that even those without any financial or real estate experience will understand the definitions. With more than 1,800 terms, this dictionary allows you to under— stand almost every term you come across during your encounter with the lending process, whether you are researching the difference between trusts and liens or examining a prospective home’s features. In addition to outlining terms associated with lending, it also includes information about important legislative acts and federal agencies that affect financing.
The handy A-to-Z organization allows you to quickly find any information you need, even during nerve-racking negotiations. The definitions also include any abbreviated forms of the terms, so you will be able to tell your ARMs (adjustable-rate mort— gages) from your REITs (real estate investment trusts). This guide defines the players, the problems, the process, and the procedures.
Whether you are looking to buy a home, trying to refinance, taking a finance class, or simply curious about the mortgage and lending industry, this dictionary is an indispensable guide to the many terms, tools, and agreements you will encounter at every step of the complex lending process.
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