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Equal Credit Opportunity

A federal law that requires lenders and other creditors to make credit equally available without discrimination based on race, color,...

Lease-Purchase Mortgage Loan

An alternative financing option that allows low- and moderate-income home buyers to lease a home from a nonprofit organization with an...

Fixed-Rate Mortgage (frm)

A mortgage in which the interest rate does not change during the entire term of the...

Power Of Attorney

A legal document that authorizes another person to act on one's behalf. A power of attorney can grant complete authority or can be limited...

Guaranteed Loan

Also known as a government...

Mortgage Life Insurance

A type of term life insurance often bought by mortgagors. The amount of coverage decreases as the principal balance declines. In the event...

Corporate Relocation

Arrangements under which an employer moves an employee to another area as part of the employer's normal course of business or under which...

Lease

A written agreement between the property owner and a tenant that stipulates the conditions under which the tenant may possess the real...

Servicing

The collection of mortgage payments from borrowers and related responsibilities of a loan...

Certificate Of Reasonable

A document issued by the Department of Veterans Affairs (VA) that establishes the maximum value and loan amount for a VA mortgage....