wrap-around mortgage adj.— «Featured topics will be equity participation, the wrap-around mortgage, and the techniques of investment in income-producing property.» —“Mortgage Bankers Meeting to Be Held Here...
liar’s loan n. money borrowed from a financial institution under false pretenses, especially in the form of a “stated income” or “no-doc” loan which can permit a borrower to exaggerate income. (source: Double-Tongued...
liar’s loan n.— «You rarely hear anything about individual borrowers who tell little white lies, the ones who obtain so-called “liar loans,” but they’re just as prevalent, if not more so. A young New Jersey couple, “the...
liar’s loan n.— «Over half of subprime mortgages are stated-income loans, loans which the industry often refers to as “liars loans.” The question is, who’s lying? According to a survey of over 2,000 mortgage brokers, 43% of...
starvation corner n.— «In 1945 opponents of the American Loan denounced its acceptance as “an economic Munich,” to which [John Maynard] Keynes retorted that the alternative was “starvation corner...
cram down n.— «if a debtor owned a car for which the loan was worth more than the car itself, the court was allowed to do what’s called a “cram down”—or matching the debt to the car’s value.» —“Just Creeping...