APR Financial Glossary
What is it? (see Annual Percentage Rate)Finance Term Definition Added By: Charlie
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Financial Term IRA is (see Individual Retirement Account)Financial Term Mortgage Insurance is A policy that protects lenders against some or most of the losses that can occur when a borrower defaults on a mortgage loan. Mortgage insurance is required primarily for borrowers with a down payment of less than 20% of the homes purchase price.
Financial Term Repossession is A collection procedure to take back security such as a car or equipment to satisfy a defaulted loan.
Financial Term Amortization Term is The amount of time required to amortize the loan. The amortization term is expressed as a number of months. For example, for a 15-year fixed-rate mortgage, the amortization term is 180 months.
Financial Term Market Value is See Market Capital.