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Glossary Overview

 

Mortgage Dictionary

This is partially compiled from a variety of information and sources, originally it was primarily from information via the U.S. Department of Housing and Urban Development Washington, D.C. 20410 March 1987 HUD-383-H(8).

The potential Mortgagor (Borrower) will find some factors may affect definitions:

Terms are defined as they are commonly understood in the mortgage and real estate industry. The same terms may have different meanings in another context.

The definitions are intentionally general, non-technical and short. They do not encompass all possible meanings or nuances that a term may acquire in legal use.

State laws, as well as custom and use in various States or regions of the country, may modify or completely change the meanings of certain terms defined.

Before signing any documents or depositing any money before entering into a real estate contract, the borrower may desire to consult with an attorney of his choice to ensure that his rights are properly protected. Note: A bold typed word appearing within a definition indicates that the word is defined elsewhere in the alphabetical listing.

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