Below is an A-Z glossary of general terms used within the mortgage industry. Click on any term to view a detailed explanation. Use the alphabet below to navigate quickly to a term beginning with:
This occurs mainly during a housing slump but can happen due to the devaluation of a property. A negative homeowners’ equity situation exists when the amount borrowed is greater than the value of the property, so that if the property was sold the owner would not be able to repay the entire mortgage.