Glossary of loan terms loan 2014
The following is a glossary of the terms used by loan and mortgage :
1- Annual Percentage Rate :
A definition intended to identify the true cost of borrowing on a loan
or mortgage... and to provide the customer with a method for comparing
loan or mortgage costs.
2-What Bad Credit: This is credit which
has fallen into arrears or not been paid on time.... Sometimes referred
to as adverse credit.
3-what Bridging Loan: A short term loan to (bridge) the period between buying a property and selling a previous one.
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