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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
M
Margin
For an adjustable-rate mortgage (ARM), the amount that is
added to the index to establish the interest rate on each
adjustment date, subject to any limitations on the interest
rate change.
Maturity
The date on which the principal balance of a loan, bond,
or other financial instrument becomes due and payable.
Modification
The act of changing any of the terms of the mortgage.
Money market account
A savings account that provides bank depositors with many
of the advantages of a money market fund. Certain regulatory
restrictions apply to the withdrawal of funds from a money
market account.
Monthly payment mortgage
A mortgage that requires payments to reduce the debt once
a month.
Mortgage
A legal document that pledges a property to the lender as
security for payment of a debt.
Mortgagee
The lender in a mortgage agreement.
Mortgagor
The borrower in a mortgage agreement.
Mutual
The term mutual denotes a company that is owned by its policyholders
instead of by stockholders. These companies return part
of their profits to policyholders as dividends.
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