 Posted: Tue Jun 21, 2005 4:47 am Subject: Debt Glossary for alphabet "T" |
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Hi,
I have enlisted all the major terminologies related to debt under alphabet T below -
Tax Impound: Money paid to a lender in relation to annual tax expenditures.
Tax Lien: When a borrower fails to pay taxes at regular intervals the lender may claim a property of the borrower to make up the tax amount.
Third Party Fees: When a lender hires a third party and avails their services he pays a particular amount of money as fees to them.
Total Payments: The entire amount a borrower pays during the life span of a loan which includes principal amount, interest rates, taxes and other financial charges.
Trade Lines: The various credit accounts that reflect on your credit report are known as Trade lines.
Trans Union: It is amongst the three largest and most popular credit bureaus in the United States.
Trustee: A person (or institution) who has legal rights and responsibilities to a property and is entrusted to use it for another's benefit.
Truth-in-Lending Act: This is a Federal law which consists of a written document with all the terms and conditions related to a particular mortgage transaction. This documentation includes mandatory disclosure of apr, hidden fees and other relevant charges.
Regards
Roxette
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roxette
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