Rated Financial Glossary
What is it? When insurance cover is given, but at a higher cost than normal, usually due to a medical problem which might mean you could die earlier than most other people.Finance Term Definition Added By: Addison
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Other Similar Finance Terms:
Financial Term Equity Credit Line (ECL) is A combination of a line of credit and equity loan. A maximum loan amount is established based on credit and equity. A mortgage is recorded against the potential borrowers property for said maximum loan amount. The potential borrower has the right to borrower, as needed, up to the amount of the mortgage.Financial Term Margin is The amount or percentage added to the index at each adjustment to determine the borrowers new interest rate. Margins are generally fixed for the term of the loan and are based on the lenders estimated expenses and profit goals. Index rate + Margin = Interest Rate.
Financial Term PEP is Personal equity plan
Financial Term debt is Funds owed by a debtor to a creditor. Outstanding debt obligations are assets for creditors and liabilities for debtors. May or may not be covered by written agreements.
Financial Term Free Application for Federal Student Aid (FAFSA) is The financial aid application document completed by the student, and the students parents if applicable, that collects household and financial information. The FAFSA is the foundation document for all federal need analysis computations and database matches performed for a student.