Homeowner Education

Installment credit is a loan for a fixed amount of money. The borrower agrees to make a set number of monthly payments at a specific

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

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

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

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,

A guaranteed mortgage is a home loan guaranteed by a third party, often a government agency that will buy the debt from the lender and

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

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

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