Unit 14: Real Estate Financing Flashcards

1
Q

acceleration clause

A
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2
Q

adjustable-rate mortgage (ARM)

A
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3
Q

alienation clause

A
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4
Q

amortized loan

A
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5
Q

assumption of mortgage

A
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6
Q

balloon payment

A
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7
Q

beneficiary

A
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8
Q

Comprehensive Loss Underwriting Exchange (CLUE)

A
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9
Q

debt to income (DTI)

A
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10
Q

deed in lieu of foreclosure

A
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11
Q

deed of reconveyance

A
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12
Q

deed of trust

A
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13
Q

defeasance clause

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14
Q

deficiency judgement

A
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15
Q

discount points

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16
Q

equity

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17
Q

foreclosure

A
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18
Q

growing-equity mortgage

A
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19
Q

homeowners insurance

A
20
Q

hypothecation

A
21
Q

index

A
22
Q

interest

A
23
Q

interest-only loan

A
24
Q

lien theory

A
25
Q

loan origination fee

A
26
Q

loan-to-value ratio LTV

A
27
Q

margin

A
28
Q

mortgage

A
29
Q

mortgagee

A
30
Q

mortgagor

A
31
Q

negative amortization

A
32
Q

negotiable instrument

A
33
Q

note

A
34
Q

novation

A
35
Q

PITI (principal, interest, taxes, and insurance)

A
36
Q

prepayment penalty

A
37
Q

promissory note

A
38
Q

release deed

A
39
Q

reverse mortgage

A
40
Q

satisfaction of mortgage

A
41
Q

short sale

A
42
Q

straight loan

A
43
Q

“subject to”

A
44
Q

title theory

A
45
Q

trustor

A
46
Q

usury

A