Impound Account

An account that is set up as a savings account that accumulates a portion of a borrower

Impound (Reserves)

A fraction of a borrower


Additions to raw lands.


Making a payment for a loss.


A measure of the interest rate changes used to determine changes in an adjustable rate mortgage


The right to enter a tract of land.

Initial Rate

The rate charged during the first interval of the adjustable rate mortgage.


The situation that occurs when a person is unable to pay debts as they become due.


Protection against specified hazards by a company that a party pays a premium to.

Insurance Loan

The loan that is taken out by a borrower that is the cash value of the borrower

Interest Rate

Generally expressed as a percentage, this is the periodic charge on borrowing money.

Interest Rate Cap

A clause built into an adjustable rate mortgage that limits drastic changes in the interest rates.

Interim Financing

Commonly used as a