Mortgage Dictionary

A B C D E F G H I J K L M N O P Q R S T U V W

FAQ

MORTGAGE DICTIONARY

HOMEBUYER'S GUIDE

REFINANCE GUIDE

HOMEPATH AND HOMESTYLE LOANS

EDUCATIONAL RESOURCES

Why Sky Real Estate 

You need mortgage professionals you can trust. You need a company that values honesty and integrity throughout the entire organization. You need mortgage planning specialists who give you their best consistently. You need to find strength, stability and opportunity—especially now. You need Grand Avenue Realty & Lendings!

When dealing with your home financing, we are not only working with one of your largest personal financial investments; we also are handling one of your biggest dreams. Since we work with matters so close to the heart, we serve you from ours.

Grand Avenue Realty & Lending can meet you where you are and help you where you are going. Let us provide you a mortgage without obstacles.

B

BALLOON MORTGAGE

A mortgage in which the borrower’s monthly payments are amortized over a longer period than the actual term of the mortgage. As a result, at the end of the loan term, the borrower must pay off the remaining balance with a single lump sum payment or refinance the loan.

BANKRUPTCY

When a debtor yields his or her assets to the Bankruptcy Court and thereby is relieved of the duty to repay unsecured debts. After claiming this provision of Federal Law, the debtor is discharged of existing unsecured debt; the unsecured creditors may not continue collection actions. Although they may not take additional action to collect from the debtor, those creditors holding deeds of trust or judgment liens are secured by the property. Not all debts may be discharged.

BROKER

A person who coordinates funding or negotiates contracts for a client but does not loan the money him- or herself.

BUY-DOWN

A situation in which the lender subsidizes the mortgage by lowering the interest rate. During the first few years, the loan payments are low, but they will increase when the funding expires.

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Skyh Inc. - A true Full-Service Brokerage   

NMLS 1615282   BRE: 00827316

10129 E. Rosecrans Ave. 

Bellflower, CA. 90706

855-TeamSky  

855-832-6759