Posted by Ed Garcia on March 01, 2001 at 09:05:58:
Borne,
Before you know it, I’ll be working exclusively for you. Tell you what I’m going to do. I’ll give you some names of different loans and let you find out what they are. As much as I’d like to, I just don’t have the time to spend my morning defining them for you.
Here Goes,
Swing Loan
Gap Loan
Construction Loan
Take Out Loan
Wrap-Around Loan
Stated Income
NIQ
NIV
Easy Doc
Light Doc
No Doc
Carry-back Loan
Home Equity Loan
Credit Line
Credit Loan
Working Credit Line
Fix Rate Loan
Adjustable Loan
GPM (Graduated Payment Mortgage)
GEM (Growing Equity Mortgage)
Hypothecation
Interim Financing
Junior Loan
Senior Loan
Lease Option
Leasehold Mortgage
Leaseback
Cross Collateralization
Blanket Lien
PAM (Pledge Account Mortgage)
Roll Over Loan
Sale-Leaseback
SAM (Shared Appreciation Mortgage)
Sinking Fund
And the list goes on…
Borne, Have fun with this list. It ought to keep you busy for a while. Why don’t you get back to us and share your definitions with the board.
Ed Garcia