Terms Used In U.S. Code > Title 10 > Subtitle D > Part II > Chapter 945 - Computation of Retired Pay

• Amortization: Paying off a loan by regular installments.
• 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}
• Lien: A claim against real or personal property in satisfaction of a debt.
• mortgage: means a first mortgage on real estate, in fee simple, or on a leasehold (1) under a lease for not less than ninety-nine years which is renewable. See 12 USC 1736
• 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: includes the original lender under a mortgage, and his successors and assigns approved by the Secretary. See 12 USC 1736
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• mortgagor: includes the original borrower under a mortgage and his successors and assigns. See 12 USC 1736
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Probation officers: Screen applicants for pretrial release and monitor convicted offenders released under court supervision.
• State: means a State, the District of Columbia, the Commonwealth of Puerto Rico, or any other territory or possession of the United States. See 1 USC 7