Homeowner Education

The latest news, tips, and tricks for homeowners

Installment Loan

An installment loan is a financial product that permits individuals to borrow a large sum of money that they can then repay over time.

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Hypothecation

Hypothecation is the promise of collateral in return for a loan. When a lender chooses to issue a loan to a borrower, the lender sometimes

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Home Keeper

Home Keeper was a Fannie Mae reverse mortgage program that allowed older homeowners to borrow against the equity in their homes. Anyone 62 or older

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HELOC

A home equity line of credit, or HELOC, is a loan in which the lender agrees to lend a maximum amount within an agreed period,

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Guaranteed Loan

A guaranteed loan is one in which a third party supports the borrower by promising to repay the debt if the borrower defaults or stops

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Grace Period

A grace period is a period of time creditors give borrowers to make their payments before incurring a late charge or risk defaulting on the

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GFE

GFE is an acronym for good faith estimate. Within three days of applying for a mortgage or reverse mortgage, the loan company is required to

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Freddie Mac

Freddie Mac, the informal name of the Federal Home Loan Mortgage Corp., is a U.S. government-sponsored enterprise (GSE) that buys mortgages, combines them with other

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