LEVEL PAYMENT MORTGAGE
A mortgage that requires the same payment every month or every period, for the entire loan term. At the beginning, almost the whole installment amount goes to paying off loan interest. But as the value of total loan decreases, an increasing portion of the installment is set for the principal loan. The level payment mortgage lets borrowers to know exactly the amount they need to pay on the mortgages every pay period. It is payable in three, five, or ten years, depending on the agreement of both parties. Its stability makes it easier for borrowers to allot a budget and stick to it. This mortgage can be fixed or variable-rate loans.
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Robert C. Merton
American economist who won the 1997 Nobel Memorial prize in Economic Sciences, along with Myron Scholes, for developing the Black-Sholes model, whi ...
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Recommendation to purchase a given security once a security’s price surpasses a particular resistance level by putting a buy stop order at th ...
Admitted Company
An insurance company admitted and allowed by an another state to transact insurance business despite having a domiciled status on an another state. ...
Black Box Model
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Form 3903
A form issued by the IRS and used by taxpayers to deduct moving expenses related to taking a new job.
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