Equity Loan
A mortgage backed loan in which the borrower receives the loan in cash is called as an equity loan. In general, the lender secures the loan against borrower’s real estate, already owned outright. For instance, if a person...
Contents Insurance
Contents insurance is insurance in which insurer pays for damage to, or loss of, an individual’s personal possessions provided that they are located within individual’s home. However, in case of some contents insurance policies, a restricted...
Pre approved loan
What is Pre-Approval A written commitment issued by a lender after a comprehensive analysis of the creditworthiness of the applicant, including verification of income, resources, and other such matters as is typically done as...
Technical analysis
In the fast-paced world of financial markets, it is important to develop domain knowledge expertise in quantitative and qualitative analytical skills. Increasing volatility across global markets has necessitated a multidimensional approach for understanding the...
E-Mini futures
E-minis are stock market index futures contracts traded on the Chicago Mercantile Exchange’s Globex electronic trading platform. CME E-mini S&P 500 tracks the Standard & Poor’s 500 Index, the key benchmark for large-capitalization U.S. stocks...
Refinancing
The word refinancing refers to converting the existing debt obligation with a new debt obligation under new terms. These terms and conditions, however, differ widely by country, province/state. This is because; the inherent risk...
Checking Account
A deposit account which is held at bank or financial institution by individuals/business entities (account holders), offering them secured and swift access to funds on demand, through a variety of different channels, is called...
Mortgage life insurance
Mortgage life insurance is purchased in order to guarantee that any outstanding mortgage debt you may have at the time of your death will be paid off in full. Types of Mortgage Life Insurance...
Critical insurance
Critical Illness Insurance is the financial safety net should you suffer from a critical illness. Critical illness coverage provides benefits that are paid upon the diagnosis of a critical illness such as cancer, heart...
Stock purchase program
Participating in an employee stock purchase plan (ESPP) can be an important part of employee’s overall financial strategy. ESPPs enable you to invest in your company by purchasing shares of your company’s stock, usually...
Adjustable rate mortgage (ARM)
Adjustable-rate mortgages (ARMs) are loans with interest rates that change. ARMs may start with lower monthly payments than fixed rate mortgages An adjustable-rate mortgage differs from a fixed-rate mortgage in many ways. Most importantly,...
Viatical settlement
A viatical settlement is an arrangement between the owner of an insurance policy (the viator) and a third party (the provider). The provider negotiates with the viator for the purchase of his/her life insurance...
Troubled assets relief program
Financial turmoil began in August 2007 when asset-backed securities, particularly those backed by subprime mortgages, suddenly became illiquid and fell sharply in value as an unprecedented housing boom turned to a housing bust. The...
Annual percentage yield (APY)
Whether you are borrowing money to make a large purchase or depositing your money in a financial institution so you can make money (e.g., savings account, certificate of deposit), you will need a basic...
London interbank offered rate
The London Interbank Offered Rate is a daily reference rate based on the interest rates at which banks borrow unsecured funds from other banks in the London wholesale money market (or interbank market). Alternatively,...