Negative Amortization
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Occurs when the loan payment is not sufficient to cover the interest cost
and results in the unpaid interest being added to the original balance,
causing the loan amount to increase.
Farmer's Home Loan
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Purchase of inexpensive homes in rural areas or small towns
, Payment periods went from ______ in 1920 to ______ today
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5 years; 30 years
Points
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Unit of measurement used for various loan charges; 1 point=1% the amount
of a loan
Grows as the property increases in value; mortgage payments reduce loan's amount
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Equity
Buydowns
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Payment of extra upfront points in return for lower interest rates in return
for extra payment of points
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Occurs when the loan payment is not sufficient to cover the interest cost
and results in the unpaid interest being added to the original balance,
causing the loan amount to increase.
Farmer's Home Loan
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Purchase of inexpensive homes in rural areas or small towns
, Payment periods went from ______ in 1920 to ______ today
Give this one a try later!
5 years; 30 years
Points
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Unit of measurement used for various loan charges; 1 point=1% the amount
of a loan
Grows as the property increases in value; mortgage payments reduce loan's amount
Give this one a try later!
Equity
Buydowns
Give this one a try later!
Payment of extra upfront points in return for lower interest rates in return
for extra payment of points
