home debtor


Borrower with a large mortgage, yet little or no equity in the property. This individual is likely to never be able to pay off the loan because of the high costs related to owning a home. In addition to the mortgage payments, these costs can include property taxes, insurance, and home repairs.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
home buyers' plan (HBP) home equity