"Codicil" is an addition to an existing will. When circumstances change or…

Microlending is the practice of providing microloans to small business owners. Typic…

What Is a Fiduciary? A fiduciary is a person or organization that acts on behalf …

A mortgage loan that deviates from standard mortgage practices is an alternative mort…

The annual percentage rate (APR) is the yearly interest charged to borrowers or paid …

A deed in lieu of foreclosure is a document which transfers the property's title …

A conventional mortgage or conventional loan is any type of homebuyer's loan that…

When purchasing a home, borrowers are required to make a monetary contribution that i…

A mortgage broker acts as an intermediary between those offering real estate loans a…

Escrow is a legal concept that describes a financial arrangement in which an asset or…

The purchase of a home is likely to be the most significant investment you'll eve…

Intestate refers to passing away without a will . When a person dies intestate, it is…

An alternative to a will drafted by an attorney is something called a holographic wi…

Escheat refers to a government's legal right to seize estate assets or unclaimed …

Estate planning is the preparation of tasks to manage a person's assets in the …

A grant is an award, typically monetary, that is given by one entity (typically a com…

Grantee What Is a Grantee? The person who is awarded a grant , scholarship, or …

A company that engages in the business of dealing with financial as well as monetary …

The likelihood that a borrower may not be able to make scheduled repayments over a gi…

Creditworthiness is the method by which a lender determines whether you will default …