How does a reverse mortgage work?
Designed for seniors, a reverse mortgage is a loan that allows the homeowner to convert some of the equity in their home into cash or monthly income, while retaining home ownership. Reverse mortgages
http://www.brokeroutpost.com/reference/33499.htm (Updated: 10/04/2007)

What Happens When I Miss Mortgage Payments?
What Happens when you Miss Your Mortgage Payments? If you miss one or two motgage payments, you will be required to repay the amount you are behind as soon as possible. Penalties, late charges, an
http://www.brokeroutpost.com/reference/100042.htm (Updated: 09/04/2007)
Related Reference Topics: [foreclosure, forbearance, late, behind]

Cash Out Refi
A cash-out refinance is like a regular refinance except that the total amount of the loan is greater than your current mortgage balance, and you walk away from the closing table with the difference in
http://www.brokeroutpost.com/reference/20731.htm (Updated: 05/17/2007)

CLTV
CLTV, also know as Closing Loan to Value, is the percentage of how much a house is worth compared to how much is owed on all mortgages on the property. Example: House is worth $300,000 and 1st mort
http://www.brokeroutpost.com/reference/22069.htm (Updated: 04/26/2007)

Payoff
In order to determine exactly how much you owe on your current mortgage, you must order a Payoff from your current mortgage company. The payoff will include all principal, interest, fees and finance
http://www.brokeroutpost.com/reference/97264.htm (Updated: 03/03/2007)
Related Reference Topics: [refinance, arrears, mortgage balance]

Debt Consolidation Refinance
Doing a debt consolidation refinance is a very common type of refinance and is one of many reasons to refinance your home mortgage loan. Consolidating debt into your mortgage has numerous benefits. On
http://www.brokeroutpost.com/reference/52948.htm (Updated: 11/28/2006)
Related Reference Topics: [debt consolidation, refi, refinance]

Building equity
Obtaining a mortgage and making a payment that covers the principal and interest portion of your mortgage payment will help you to build equity in your home. Every time you make a payment on your mort
http://www.brokeroutpost.com/reference/23646.htm (Updated: 06/16/2006)
Related Reference Topics: [equity, appreciation]

LTV
LTV, also known as Loan to Value, is the percentage of what a house is worth compared to the amount of the mortgage owed on the property. Example: House is worth $200,000 and mortgage balance is $15
http://www.brokeroutpost.com/reference/22067.htm (Updated: 04/20/2006)