Hollow Wall Wall with an air space within the wall. Will Will that does not meet all the requirements of a valid will. Home Affordability Index Measure of the typical U.S. family's ability to buy a home, published by the National Association of Realtors. Some experts maintain that every one-point increase in the home mortgage interest rate results in 300,000 fewer home sales. Home Equity Conversion Mortgage Also known as reverse mortgage, this loan is made to older owners to convert their equity into money.
Borrowers are qualified on the basis of the value of their homes.
This is not the same as a home equity loan. Most loan amounts are limited to 75 or 80 per cent of the appraised value. Withdrawals can be made at any time with the guidelines. Home Equity Loan Loan allowing owners to borrow against their equity in the home, usually a second mortgage. Home Improvement Loan Loan used to pay for major remodeling, reconstruction or additions to the home, usually a second mortgage.