The HSH Mortgage Glossary T-Z
To view a linked word list, View the Summary
The Mortgage Glossary Index:
Acronym for the Troubled Asset Relief Program, a voluntary Capital Purchase Program to encourage US financial institutions to build capital to increase the flow of financing to US businesses and consumers and to support the U.S. economy. See this Treasury announcement or this Wikipedia article for more.
A deed to a property purchased at a public sale. See also Tax Sale
Tenancy In Common
Joint ownership by two or more persons. Each person has equal rights to the property but without any right of survivorship. Ownership does not pass to the others in the event of death.
A form of ownership in real property similar to a condominium or cooperative. Generally, a series of residential units which share common walls with the adjacent units, but stand on individual lots. Owners have title to the unit and lot that they occupy. The common areas and the building exteriors are owned jointly.
A federal law and supporting regulations which require lenders to fully disclose, in writing, the terms and conditions of a loan, mortgage, or other credit. Lenders are required to specify the rate, term, fees, and other characteristics, including an Annual Percentage Rate (APR).
A deed in which the seller guarantees that title is free and clear of encumbrances other than any stated in it the contract or deed. See Quitclaim Deed
More help from HSH.com
Home price recovery index: Which metros have improved the most, least?Have home prices in your area fully recovered from the declines suffered during the Great Recession, or are they still struggling to make it back to the peak reached before the crisis?
Refinance on the dipsMortgage rates fluctuate like waves in the ocean; refinancers who are chasing the lowest rates can lock in their loan when rates dip.
5 things homebuyers should be thankful for this ThanksgivingHere are five things homebuyers should be thankful for this Thanksgiving.
The salary you must earn to buy a home in the 50 largest metrosHere’s how much salary you would need to earn in order to afford the median-priced home in your metro area.
10 metros where a home costs about $1,000/monthHSH.com identifies 10 metro areas where you can afford the principal, interest, taxes and insurance payments on a median-priced home for only around $1,000 per month.