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| Home Insurance Glossary
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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
terms
F
Firm commitment
A lender's agreement to make a loan to a specific borrower
on a specific property.
Fixed installment
The monthly payment due on a mortgage loan. The fixed installment
includes payment of both principal and interest.
Fixture
Personal property that becomes real property when attached
in a permanent manner to real estate.
Flood insurance
Insurance that compensates for physical property damage
resulting from flooding. It is required for properties located
in federally designated flood areas.
Forfeiture
The loss of money, property, rights, or privileges due to
a breach of legal obligation.
Fraud
Fraud is any intentional lying or misrepresentation by policyholders
or claims adjusters in order to inflate a claims payment
or receive a claims payment that would otherwise not be
paid.
Fully amortized ARM
An adjustable-rate mortgage (ARM) with a monthly payment
that is sufficient to amortize the remaining balance, at
the interest accrual rate, over the amortization term.
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