Dictionary

Annual Percentage Rate

Definition: The total yearly cost of credit. Pronunciation: an-yə(-wə)l, -yü-ə  pər-ˈsen-tij Used in a Sentence:  The annual percentage rate for a 30yr mortgage is 4%.

Annual Debt Service

Definition: The amount of money required each year for the payment of all mortgage principal and interest. Pronunciation: an-yə(-wə)l, -yü-ə  det Used in a Sentence:   The annual debt service is used by...

Anniversary Date

Definition: Recurring each year; the date an insurance policy must be renewed to remain in effect. Pronunciation: a-nə-ˈvərs-rē Used in a Sentence:  The anniversary date of our insurance policy is March 15....

Amortized Mortgage

Definition: A loan that is characterized by making regular payments over a long period of time. Pronunciation: a-mər-ˌtīz-ed  mȯr-gij Used in a Sentence:   The buyer preferred an amortized mortgage because the payments...

Alluvion (alluvium)

Definition: The resulting increase to land by the gradual addition of matter (as by the deposit of sand or mud) that then belongs to the owner of the land to which...

Alienation

Definition: a conveyance of property from one person to another. Pronunciation: ˌā-lē-ə-ˈnā-shən Used in a Sentence:  The sale of property under a contract consummated by the delivery of a deed is a...