• Reverse Mortgage

    • A reverse mortgage is a type of loan available for seniors where the home equity in the property is released in multiple payments or with one lump sum. The obligation with the homeowner to pay back the loan is deferred until... 

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  • Negative Amortization

    • Negative amortization, also referred to as NegAm, is used to describe an instance when the balance on a loan continues to increase instead of decrease every month, with each payment that is made. The reason that this occurs... 

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  • Mortgage Loan

    • A mortgage is when an owner generally for a fee of simple interest, provides a security or a right for a loan. A mortgage is known as an encumbrance to the property rights. A mortgage is a condition to obtain a loan secured... 

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  • Line Of Credit

    • A line of credit (LOC) is a term used to describe a financial arrangement between a customer and any financial institution, such as a bank, which serves to establish the maximum loan balance amount that the bank allows the... 

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  • Interest Rates

    • An interest rate can be defined as the amount a borrower pays a lender for the use of money that is not owned by them. For example, a small business might borrow from a bank to start their business, and the lender receives... 

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  • Home Equity

    • A home equity is a form of acquiring credit where your home will serve as collateral. A home is a client’s most valued asset, where most homeowners use home equity in order to acquire credit for home improvements, education... 

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  • Foreclosure

    • Foreclosure is a legal proceeding where a lien or a mortgage holder, usually the lender obtains a termination ordered by the court for a mortgagor’s right to redemption. The lender obtains from the borrower a security interest... 

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  • Equity Loan

    • An equity loan is one type of mortgage that is placed on a piece of real estate in place of cash and given to the borrower. Most commonly, lending institutions ask that the borrower only repays an interest component of said... 

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  • Compound Interest

    • Compound interest is an economic concept where accumulated interest is added once again to the principal amount, which means interest is added on top of interest from then onwards. The act where interest is declared to be... 

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  • Collateral

    • Collateral is when a borrower promises to a lender a property that is specific to provide security when repaying a loan. In case a borrower defaults this security provides protection. That is if a borrower defaults to make... 

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