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  Mortgage Glossary  

Mortgage Glossary


Adjustable-Rate-Mortgages: Features, Benefits and Risks

Lenders generally charge lower initial interest rates for ARMs than for fixed-rate mortgages, making ARMs easier on your pocketbook at first ... more

Income Tax Deductions: Home Refinancing Points

I refinanced my home last year and paid points. Are they all deductible this year?
Generally points paid to refinance your home are "amortized" or deducted over the life of the loan ... more

Lender Complaint Letter

Under federal law, lenders must acknowledge your complaint within 20 business days and resolve it within 60 business days ... more


Cancellation of Private Mortgage Insurance (PMI)

If you meet the eligibility criteria, your PMI must - with certain exceptions - automatically terminate when you reach 22 percent equity in your home ... more

Home Improvement Loan

These may be used to finance permanent home improvements, rehabilitation, building alterations or repairs that protect or improve the basic livability or utility of the property ... more

Mortgage Glossary

Confused about a word or mortgage term that you have encountered? Look it up in our mortgage glossary, or search our site for a related article ... more