Mortgage Glossary from Money Tree Mortgage Centre - Mortgage Broker in Niagara - Serving St. Catharines, Thorold, Welland, Niagara Falls, Niagara-on-the-Lake

Mortgage Glossary

Abandonment
Abstract of Judgment
Acceleration Clause: The section of a mortgage document that allows the lender to speed up the payment date in the event of a default, making the entire principal amount due.
Acceptance
Account Agreement
Accounting Method
Accounts Payable
Accrual Method
Accrue
Accrued Interest
Acquiring Financial Institution
Acquisition Fee
Acre
Acre Foot
Act of God
Active Income
Actual Age: The years since a structure was built. Differs from effective age.
Actual Cash Value
Amortization
Assumption Agreement: A legal document signed by a home buyer that requires the buyer to assume responsibility for the obligations of a former owner's mortgage.
Back Title Letter
Backup Offer

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As an Independant, non-bank owned mortgage brokerage, we at MoneyTree Mortgages are motivated only by the best interests of our clients. In the majority of cases there is no fee for our services as the lender pays us to sell their mortgages. Every successful mortgage transaction always begins with a no obligation consultation with one of our licensed agents.