Mortgage terminology

Get clarity on the unique language of mortgage loans

Couple sitting on couch and smiling at one another.

Featured resources

Housemates gathering in a living room, possibly portraying shared living or communal spaces.

6-minute read

What is joint tenancy? Definition, pros, and cons

Joint tenancy is a way to co-own property with the right of survivorship. Learn how joint tenants share ownership and what happens if one owner dies.

Professional woman typing something with multiple screens in front of her.

6-minute read

Deficiency judgment: What it is and why it matters after foreclosure

A deficiency judgment can leave you owing money after foreclosure. Learn what a deficiency judgment is, when lenders pursue it, and how to avoid one.

The front door of a suburban home with flowers, showcasing curb appeal and home aesthetics.

8-minute read

Chain of title in real estate: What it is and why it matters

Chain of title is a property’s ownership history. Learn what documents it includes, how a title search works, and what can cause title problems.

Potentially an image related to subordinate mortgages or financial agreements.

4-minute read

What is a subordinate mortgage?

A subordinate mortgage can have complex financial implications for borrowers. Uncover important realities you need to know about mortgage subordination.

A Black woman with her daughters on a couch, looking at a computer, potentially in a home setting.

4-minute read

What is a dry closing in real estate?

In dry-funding states, everything except the payment can be completed at closing. Learn about how a dry closing works, what the risks are, and where it's legal.

Friends living together, suggesting a group of friends sharing a living space or residence.

6-minute read

Tenancy in common (TIC): What is it and how does it work?

Tenancy in common is when two or more people share ownership of a property. Learn more about tenants in common and how they compare to other tenancy types.