 Posted: Tue Jun 21, 2005 4:51 am Subject: Debt Glossary for alphabet "U" |
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Hi,
I have enlisted all the major terminologies related to debt under alphabet U below -
Underwriting: Procedure dealing with the evaluation of a particular property as mentioned in the appraisal report. It also deals with the borrower's creditworthiness and capacity and willingness to repay a particular loan.
Underwriting Fee: The underwriting fee includes the total cost pertaining to the evaluation and estimation of a loan, an individual's credit report and its latest status in order to determine an his credit worthiness as an applicant for a loan.
Usury: The additional interest charges on the legal rates that are enforced by the law.
Unsecured Debt: A debt or loan which is not backed by collateral. Unsecured debts are usually a verbal commitment that has no security attached to it in case the borrower undergoes a default during repayment of a loan amount. Personal loans, credit card bills, medical bills are some typical examples of unsecured debts.
Regards
Roxette
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roxette
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