Mortgage Forbearance - Grace period given when a lender postpones foreclosure to give the borrower time to catch up on overdue payments.
Bad Credit Refinancing - The process of paying off one loan with the proceeds from a new loan secured by the same property.
Bad Credit Mortgage Loan - A loan for which real estate serves as collateral to provide for repayment in case of default.
Cash Out - A refinance for more than the balance of the current mortgage. The excess money taken out reduces the borrower’s equity.
