-H-
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Hazard
Insurance
-
insurance on a property against fire and other natural disasters.
Areas prone to flood, hurricanes, or earthquakes may require
special policies.
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Homeowner's
Fees (Association Fees)
-
payments made by the owners of a condominium or a unit in
a PUD
to the homeowners' association for administrative expenses,
and cost incurred in upkeep of the common areas.
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Homeowner's
Insurance
-
a policy that combines personal liability insurance and
hazard insurance for a home
and its contents. Such a policy is generally required to
obtain a loan.
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Housing
and Urban Development (HUD)
-
the federal government agency that oversees the FHA.
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HUD 1
-
a closing document required by HUD
that outlines the settlement cost of a loan. It contains
an itemized list of closing
costs and is signed by the buyer and the seller.
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Hybrid
Mortgage
-
a mortgage with a one-time rate adjustment after a specified
number of years.
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Mortgage Glossary © Copyright 2004, 2008
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