EQUITY TAKEOUT
Mortgage in which the owner takes the money out of a property for numerous purposes. Homeowners are permitted to touch the equity of their home. If done in a home with an existing mortgage, the principal on the mortgage will escalate. But if the owner has no mortgage, he will be borrowing against the property.
Equity takeout is available in two forms: traditional fixed rate mortgage and variable line of credit option. The traditional mortgage gives stable interest rates for a predetermined time period and has constrained prepayment option. The variable line’s rate fluctuates and has flexible prepayment choices. Also called equity takeout mortgage.
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Tri-Party Agreement
Business agreement, between three different parties, which is commonly used in securing bridge loans for building a home or other real estate. In m ...
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White List States
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Adjusted Debit Balance
An amount in the margin account which is owed to the broker, minus balances in a special miscellaneous account (SMA) and profits on short sales. Th ...
Interchange
Electronic transfer of information from one computer to another. In business, it normally refers to Electronic Data Interchange (EDI), a system tha ...
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ECONOMIC CALENDAR
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| 15:30 | Industrial Product Price Index | Nov | |
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| 15:30 | Durable Goods Orders | Nov |
