Charge-Off: brand new part of dominating and you may attention due to the financing you to is created out-of when considered become uncollectible
Co-Signer: somebody who cues a card application that have someone, agreeing become just as accountable for new fees of the mortgage
Dollars Reserves: a funds matter both called for of the client become visit site held into the set-aside in addition to the down payment and you can closing costs; the amount relies upon the lender.
Casualty Shelter: property insurance coverage that covers any harm to the home and personal possessions either in to the otherwise outside of the domestic.
Certificate off Title: a document provided by a professional origin, including a title team, that presents the home legitimately belongs to the latest proprietor; till the identity was transmitted in the closure, it needs to be obvious and free of all of the liens and other states.
Chapter thirteen Bankruptcy: this type of bankruptcy establishes an installment package involving the borrower and collector monitored by the judge. Read more
