Confused in the Home Loan jargon? Our glossary
will help you in understanding the basic loan related terms.
Browse through the glossary or serach for a term through the
menu to resolve any doubts.
Glossary of Home insurance
An amount owed to another. See installment loan and revolving
The section of your insurance policy containing basic information
such as your name and address, the description and location
of the insured property, the policy's term, amount of coverage,
and premium amounts.
The amount you are financially responsible for before the
insurance company provides coverage. In most cases, a higher
deductible will give you lower premiums.
The legal document conveying title to a property.
Failure to make mortgage payments on a timely basis or to
comply with other requirements of a mortgage.
Demutualization is the conversion of an insurance company
from a mutual company that is owned by its policyholders
to a publicly traded company that is owned by stockholders.
A sum of money given to bind the sale of real estate, or
a sum of money given to ensure payment or an advance of
funds in the processing of a loan..
A decline in the value of property; the opposite of appreciation.
The rights of a widow in the property of her husband at
The part of the purchase price of a property that the buyer
pays in cash and does not finance with a mortgage.
A provision in a mortgage that allows the lender to demand
repayment in full if the borrower sells the property that
serves as security for the mortgage.
This terminology is usually used for second mortgages.