Pledging real property as security for a debt, without giving up possession of the property. Answer
The person that gives final loan approval after reviewing the loan to make sure everything has been done properly and completely. Answer
A loan that addresses the interest owed, plus something towards the principal with every payment. Also called a Direct Reduction Loan, P & I (principal and interest), PITI (principal, interest, taxes and insurance) or a Budget loan (also principal, interest, taxes and insurance). Answer
A loan that COVERS more than one property. Answer
A type of Security Document pledging a property as security for a debt. A two party instrument which the borrower gives to the lender in return for providing the loan on a property. Answer
The borrower in a Deed of Trust. Answer
A loan that has both real and personal property pledged as collateral. Answer
The lender in a Deed of Trust. Answer
Charging more interest than the maximum amount allowed by law. Answer
The interest someone has in a property. The difference between the CURRENT value of the property and the CURRENT balance of the loan. Answer