Terms with Tag Refinance
- Cash Out Mortgage (COM) — Acronym, Very Important,
➥ More commonly referred to as "home equity loan" or "refinance."
- The taking out of a new mortgage on the same property in which the amount borrowed is greater than the amount of the previous mortgage. The difference is taken out in cash.
- Home Equity Release (HER) — Acronym,
- Home Equity Withdrawal (HEW) — Acronym,
- Home Improvement Loan (HIL) — Acronym, Important,
- Interest Rate Differential (IRD) — Bank, Very Important,
- The penalty one pays for breaking a mortgage.
- Mortgage Interest Rate Differential (MIRD) — Acronym,