Betsy Grauer Realty, Inc.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Other

margin - The number of percentage points a lender adds to the index value to calculate the ARM interest rate at each adjustment period. A representative margin would be 2.75%.
mortgage - A legal document that pledges a property to the lender as security for payment of a debt
mortgage disability insurance - A disability insurance policy which will pay the monthly mortgage payment in the event of a covered disability of an insured borrower for a specified period of time.
mortgage insurance (MI) - Insurance written by an independent mortgage insurance company protecting the mortgage lender against loss incurred by a mortgage default. Usually required for loans with an LTV of 80.01% or higher.
mortgagee - The person or company who receives the mortgage as a pledge for repayment of the loan. The mortgage lender.
mortgagor - The mortgage borrower who gives the mortgage as a pledge to repay.

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