Any attempt to steal the equity in someone's home is home equity loan fraud.
Department of Housing and Urban Development; regulates Fannie Mae and Ginny Mae. The fee imposed by a lender to cover certain processing expenses in connection with making a loan. An insurance policy that combines personal liability insurance and hazard insurance for a home and its contents. When the total reaches a pre-determined amount, the owner begins repaying the loan or sells the property. Two-Step loans are quoted with a single cap, which is the amount by which the loan may adjust at its single adjustment date.
Balloon payments with terms shorter than five years and negative amortization when the original loan amount is increased because the monthly payments do not ccover the interest due. Often used in calculations to determine whether a borrower qualifies for a particular loan. The difference between the current market value of a property and the principal balance of all outstanding loans.