Mortgage Terms

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Across
  1. 3. the state of being responsible for something
  2. 4. a useful or valuable thing, person, or equity
  3. 6. homeowner exchanges equity in home for regular payments
  4. 8. requires you to provide proof of your financial history and stability
  5. 11. trading in your old mortgage for a new one
  6. 13. legal proceeding involving a person or business that is unable to repay their outstanding debts
  7. 14. debt to income
  8. 15. mortgage insurance
Down
  1. 1. legal process in which a lender attempts to recover the balance of a loan from a borrower
  2. 2. principal, interest, taxes, and insurance
  3. 3. financial institution that makes funds available to a person or business with the expectation that the funds will be repaid
  4. 5. adjustable rate mortgage
  5. 7. often the cheapest money you will ever be able to borrow
  6. 9. estimate of how much home you can afford
  7. 10. an unchanging rate
  8. 12. loan to value