JSN ImageShow - Joomla 1.5 extension (component, module) by JoomlaShine.com
Home 
Glossary
Glossary
Glossary | |
| Terms that are on use on this site. | |
| You can always search for entries (regexp permitted). | |
| B | |
| There are 8 entries in the glossary. | |
| Pages: 1 | |
| Term | Definition |
| Back-End Load | A fee that an investor pays when redeeming (withdrawing) funds from an investment--also called "deferred sales charge." The fee is usually dependent on how long the investment is held--the longer the time period, the smaller the fee. Mutual funds and annuities are the most common investments with back-end loads. |
| Back-End Ratio or Back Ratio | The sum of your monthly mortgage payment and all other monthly debts (credit cards, car payments, student loans, etc.) divided by your monthly pre-tax income. Traditionally, lenders wouldn't give people loans that increased this ratio past 36%, but they often do now. |
| Balance Transfer | The process of moving all or part of the outstanding balance on one credit card to another account. Credit card companies often offer special rates for balance transfers. |
| Balloon Payment | A loan where the payments don't pay off the principal in full by the end of the term. When the loan term expires (usually after 5-7 years), the borrower must pay a balloon payment for the remaining amount or refinance. Balloon loans sometimes include convertible options that allow the remaining amount to automatically be transferred into a long-term mortgage. |
| Bankruptcy | A proceeding that legally releases a person from repaying a portion or all debts owed. Bankruptcy damages your credit for 7-10 years and should only be considered as a last resort if you cannot repay your debts. |
| Bear Market | Any period of time where the overall stock market value decreases. |
| Bi-Weekly Mortgage | A mortgage that schedules payments every two weeks instead of the standard monthly payment. The 26 bi-weekly payments are each equal to one-half of a monthly payment. The result is that the mortgage is paid off sooner. |
| Bull Market | Any period of time where the overall stock market value increases. |
| Glossary V2.0 | |
