GLOSSARY
Understanding the workings of the loan process doesn't have to be difficult. To better comprehend what loans are about, you can find the most common loan phrases and terms in MorNetwork.com's Glossary. Click on the letters above to find your specific terminology.

D

Debt-to-Income Ratio
The ratio, expressed as a percentage, which results when a borrower's monthly payment obligation on long-term debts is divided by his or her gross monthly income.

 Default
Failure to meet legal obligations in a contract, specifically, failure to make the monthly payments on a mortgage.

 Delinquency
Failure to make payments on time. This can lead to foreclosure.
ABC loan terminology
CaliforniaLoanInfo.com simplifies the loan process by revealing the definitions of the most common loan terminology.
 

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