We define mortgage, and other industry terms for home buyers. Discover helps you understand common mortgage terms and meanings.
Mortgage servicing Definition The activity of keeping a mortgage loan current, including collecting monthly mortgage payments, forwarding principal and interest payments to the current mortgage holder (if the loan has been sold), maintaining escrow accounts, paying taxes and insurance premiums, and ...
Net Worth is tiotal assets minus liabilities. Net Investments is assets that generate income and/or accessible capital gain minus liabilities. Net worth can include the house and primary mortgage, but in general sense a residence is not a typical investment as it doesn’t generate income, it i...
The seller receives a check for the proceeds of the sale, less closing costs and mortgage payouts. Closing typically happens in escrow, which means that a lawyer or other trusted party gets the money and the signed deed, and arranges for the transfer. This is primarily so that the seller ...
Trump and the Republican Party going to do for him? Ken was a homeless man who moved back in with his mom. Without his mom, Ken cannot afford to stay his home. The combined mortgage and property tax escrow bill on Ken's mother's house is about $1812.90/month. Ken's mom purchased ...