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2. Mortgage assumption - Wikipedia

   en.wikipedia.org/wiki/Mortgage_assumption

   For example, making payments on the mortgage can evince an intent to assume it, as can paying less than the value of the property (if the difference is the amount outstanding on the mortgage). Absent an assumption of the mortgage by the purchaser, the purchaser buys the property subject to the mortgage, which means the property is still ...

3. Estoppel certificate - Wikipedia

   en.wikipedia.org/wiki/Estoppel_certificate

   Estoppel certificate. An Estoppel Certificate (or Estoppel Letter) is a document commonly used in due diligence in real estate and mortgage activities. It is based on estoppel, the legal principle that prevents or estops someone from claiming a change in the agreement later on. [1] It is used in a variety of countries for commercial and ...

4. Mortgage - Wikipedia

   en.wikipedia.org/wiki/Mortgage

   Mortgage. A mortgage loan or simply mortgage (/ ˈmɔːrɡɪdʒ /), in civil law jurisdictions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged.

5. Interest-only loan - Wikipedia

   en.wikipedia.org/wiki/Interest-only_loan

   An interest-only loan is a loan in which the borrower pays only the interest for some or all of the term, with the principal balance unchanged during the interest-only period. At the end of the interest-only term the borrower must renegotiate another interest-only mortgage, [1] pay the principal, or, if previously agreed, convert the loan to a ...

6. Guide to first-time homebuyer loans and programs - AOL

   www.aol.com/finance/guide-first-time-homebuyer...

   A down payment or first-time homebuyer grant is essentially free money to help you cover your down payment or closing costs. The grants are usually awarded to low- or moderate-income borrowers ...

7. Wraparound mortgage - Wikipedia

   en.wikipedia.org/wiki/Wraparound_mortgage

   Wraparound mortgage. A wraparound mortgage, more commonly known as a "wrap", is a form of secondary financing for the purchase of real property. [1][2] The seller extends to the buyer a junior mortgage which wraps around and exists in addition to any superior mortgages already secured by the property. Under a wrap, a seller accepts a secured ...

8. Mortgage prequalification vs. preapproval: How to time these ...

   www.aol.com/finance/mortgage-prequalification-vs...

   Preapproval is a much more comprehensive process than prequalification. Mortgage preapproval is a lender's conditional commitment to offer you a specific loan amount, usually good for 90 days. It ...

9. Should you use your home equity to pay off high-interest debt?

   www.aol.com/finance/home-equity-loan-pay-off...

   Benefits of tapping your home equity to pay off debt. Taking out a home equity loan can free up room in your budget to pay down high-interest debts, among other benefits that include: Lower ...