refinancing

amortization

Gradual debt reduction schedule

• escrowConditional third-party deposit
• underwritingRisk evaluation and acceptance
• appraisalEstimation of worth

closing · equity · lender · preapproval · foreclosure · interest · adjustable-rate · fixed-rate · term · principal

application

Formal request document

• approvalFavorable opinion given
• underwritingRisk evaluation and acceptance
• appraisalEstimation of worth

closing · origination · documentation · verification · timeline · fees · paperwork · settlement · funding · disbursement

portfolio

Collected works or assets

• equityImpartial treatment or ownership value
• capitalWealth used for investment
• appreciationRecognition of worth

assets · returns · valuation · liquidity · yield · leverage · real-estate · commercial · ROI

consolidation

Combining into unified whole

• liabilityLegal or financial obligation
• defaultPreset standard option
• repaymentGiving back what's owed

delinquency · lien · payoff · restructuring · relief · burden · obligation · settlement · discharge · workout

score

Numerical standing in competition

• bureauOffice or furniture chest
• reportFormal written findings
• historyRecord of past events

rating · check · worthiness · FICO · Experian · TransUnion · Equifax · approval · denial · inquiry

break-even

No net gain

• cashflowNet money movement
• budgetPlan for spending
• affordabilityState of being purchasable

cost-benefit

• financial reliefdebt relief, bailout, loan forgiveness, debt forgiveness, stimulus
• home loanshome equity, second mortgage, home improvement loan, fixed rate loan, fixed-rate loan
• mortgage reliefloan modification, loan restructuring, forbearance, mortgage assistance, mortgage relief
• personal financesavings, income, credit, investments, bills
• business activitiesmeetings, meeting, hiring, firing, training
• fundingfunding, grant, loan, grants, venture capital