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Chapter 61and 62

Horizontales
Rates set by the Internal Revenue Service for carryback sellers to impute and report income at the minimum interest when the note rate on the carry back debt is a lesser rate.
A private lender loan made or arranged by a mortgage broker
A fee imposed as an additional charge under a provision in a promissory note, lease or rental agreement when payment are not received by their due date or during a grace period.
A mortgage providing for installment payments to be periodically increased by predetermined amounts to accelerate the payoff principal
A note calling for the entire amount of its principal to be paid together with accrued interest in a single lump sum when the principal is due.
A document given as evidence of a debt owed by one person to another.
Verticales
Any final payment on a note which is greater than twice the amount of any one of the six regularly scheduled payments immediately preceding the date of the final/balloon payment
A variable interest rate note often starting out with an introductory teaser rate, only to reset at a much higher rate in a few months or years based on a particular index
A document executed by a trustee named in a trust deed to release the trust deed lien from title to real estate, used when the secured debt is fully paid.
The time period following the due date for a payment during which payment received by the lender or landlord is not delinquent and a late charge is not due.
A note calling for periodic payments of principal and interest, or interest only, until the principal is avidin full by amortization or a final balloon payment
A note entered into by the buyer in favor of the seller to evidence the amount remaining due on the purchase price after deducting the down payment, an amount inclusive of any specified mortgage debts remaining of record with the seller retaining responsibility for their payment. Also referred to as a wraparound mortgage or overriding mortgage. (acronym)