Mortgage Communications Spot - Florida Mortgages, Tampa Bay, Loans for First Time Buyers, FHA, VA and Refinance

A Acceleration clause: a provision in a mortgage that gives the lender the right to demand payment of the entire outstanding balance when the first monthly payment is missed. Adjustable-rate mortgage (ARM): a mortgage that permits the lender to adjust its interest rate periodically on the basis of changes in a specified index. Amenity: a… Continue Reading Mortgage Glossary