mortgage
House payment debt
A mortgage is a loan used to buy property, with the property itself serving as collateral.
If you fail to make payments, the lender can seize the property through foreclosure.
The word also refers to the legal agreement securing such a loan.
To mortgage property is to pledge it as security: They mortgaged the house to pay for her treatment.
Figuratively, to mortgage something is to compromise its future: mortgaging our children's future.
One who takes temporarily
- lenderOne who loans money
- principalChief school administrator
- repaymentGiving back what's owed
- amortizationGradual debt reduction schedule
installment · term · maturity · servicer · origination · preapproval · refinance · underwater
One's personal residence
- houseResidential building
- propertySomething owned or inherent
- deedWritten property conveyance
- titleFormal honorific or name
lien · encumbrance · equity · appraisal · valuation · collateral · escrow · closing
Lender seizes mortgaged property
- delinquencyCriminal or neglectful behavior
- arrearsOverdue financial obligations
- nonpaymentFailure to settle debts
- repossessionCreditor seizing collateral
auction · eviction · bankruptcy · deficiency · judgment · distress · forbearance · modification
Measured speed or charge
- APRYearly borrowing cost
- percentageProportion out of hundred
- fixedRestored or immovable
- adjustableAble to be changed
points · prime · subprime · usury · caps · floor · margin · index
Bundling debts into investable instruments
- investorOne who allocates capital
- underwriterOne who assumes financial risk
- creditworthinessAbility to repay debts
- PMIProject professionals' association
borrower
One who takes temporarily
amortization · installment · term · maturity · servicer · origination · preapproval · refinance · underwater · subprime
home
One's personal residence
title · lien · encumbrance · equity · appraisal · valuation · collateral · escrow · closing · settlement
foreclosure
Lender seizes mortgaged property
- delinquencyCriminal or neglectful behavior
- arrearsOverdue financial obligations
- nonpaymentFailure to settle debts
repossession · auction · eviction · bankruptcy · deficiency · judgment · distress · forbearance · modification · workout
rate
Measured speed or charge
- APRYearly borrowing cost
- percentageProportion out of hundred
- fixedRestored or immovable
adjustable · points · prime · subprime · usury · caps · floor · margin · index · yield
securitization
Bundling debts into investable instruments
- investorOne who allocates capital
- underwriterOne who assumes financial risk
- creditworthinessAbility to repay debts
PMI · insurance · guarantee · FHA · VA · USDA · conventional
- housingapartments, home, house, houses, homes
- debtscredit card debt, car loan, student loan, loans, bank loan
- housing marketstarter home, first home, fixer-upper, condo, flat
- money termscash, credit, debt, income, wages
- real estatehouse, home, apartment, property, sale
- billselectric bill, bill, phone bill, bills, gas bill
mortgagefree and clear
Owning without obligations attached
unencumbered · paid off · freehold · unmortgaged · clear title
- mortgage ratesCost of borrowing for property
- second mortgageSubsequent lien on property
- mortgage paymentRecurring housing debt transfer
- mortgage brokerArranges home financing
- mortgage loanDebt secured by property
- mortgage agreementsProperty purchase financing contracts
mortgages, mortgaged, mortgaging, mortgagee, mortgagor, mortgage broker, mortgagees, remortgaged, mortgager