Tennessee Code 13-22-112 – Mortgage insurance – Interest assistance
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Tennessee Code 13-22-112
- Agency: means the housing development agency, created pursuant to §. See Tennessee Code 13-22-101
- Contract: A legal written agreement that becomes binding when signed.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Mortgagee: means the original mortgage lender under an insurable mortgage, and its successors and assigns, as approved by the agency. See Tennessee Code 13-22-101
- Owner: means any person, firm, partnership or agency, either public or private, having the legal or beneficial ownership of a housing accommodation or of a building, structure, or property containing one (1) or more housing accommodations. See Tennessee Code 13-22-101
- State: means the state of Tennessee. See Tennessee Code 13-22-101