Home
California Real Estate
Mortgage Services

Andrea Palacios 123 Main Street Santa Rosa, CA 95404

Phone: 707.237.6595Phone 2: 707.237.6895Cell 707.237.6896Fax: 707.237.6894

En Español
Loan Process Tips and Tricks Faqs Glossary

Glossary

ABCDEFGHIJKLMNOPQRSTUVWXYZ
Negative Amortization
An increase in principal balance which occurs when the monthly payments do not cover all of the interest cost. The interest cost which is not covered by the payment is added to the unpaid principal balance.
Net Effective Income
The borrowers gross income minus federal income tax
Non-conforming loan
Loans that do not comply with Fannie Mae or Freddie Mac guidelines.
Note
A written instrument that acknowledges a debt and promises to pay.
Notary Public
One authorized to take acknowledgments of certain types of documents, such as deeds, contracts, and mortgages.
Notice of default
A letter sent to the defaulting party as a reminder of the default.