FORM 1098
A form that details the interest amount and mortgage-related expenses paid on a mortgage during the tax year. These expenses may be used as deductions on a U.S. income tax form, Schedule A, which reduces taxable income and the overall amount owed to the IRS. The mortgage lender is required by the IRS to provide this form to borrowers.
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Mutual Fund
An open-ended investment vehicle that is comprised of a large pool of fund collected from several investors in order to invest it in securities suc ...
Surety
Debt guarantee backing one party by another. The individual or organization, called the guarantor, takes the responsibility of paying the debt shou ...
Treasury Yield
Return on investment on the US government’s debt obligations such as bills, bonds, and notes. Expressed as a percentage, it also refers to th ...
Reverse Mortgage
A mortgage in which the homeowner borrows against his or her home equity and receives regular payments from the lender until total payments reach a ...
Common Stock Equivalent
Securities which can be changed into common stock. There are some instances a preferred stocks can also be converted into a common stock. Also know ...
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