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Cash Out Refinancing
Cash out refinancing (in the case of real property) occurs when a loan is taken out on property already owned in an amount above the cost of transaction, payoff of existing liens, and related expenses. Strictly speaking, all refinancing of debt is "cash-out," when funds retrieved are utilized for anything other than repaying an existing loan. In the common usage of the term, cash out refinancing occurs when equity is liquidated from a property above and beyond sum of the payoff of existing loans held in lien on the property. This is often done when the value of the property has increased allowing the mortgagor to increase their mortgage taking cash out to spend on other things. Etymology The compound noun "refinancing" is composed of the Latin prefix "re" (''back'', ''again'' but also ''against'', ''against'') and the word stem "financing" (Latin ''financia'', "''payment''") and is a deverbal derivative. Money creation by commercial banks When granting loans or purchasing assets ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Property
In English common law, real property, real estate, immovable property or, solely in the US and Canada, realty, refers to parcels of land and any associated structures which are the property of a person. For a structure (also called an Land improvement, improvement or Fixture (property law), fixture) to be considered part of the real property, it must be integrated with or affixed to the land. This includes crops, buildings, machinery, wells, dams, ponds, mines, canals, and roads. The term is historic, arising from the now-discontinued form of action, which distinguished between real property disputes and personal property disputes. Personal property, or personalty, was, and continues to be, all property that is not real property. In countries with personal ownership of real property, civil law (legal system), civil law protects the status of real property in real-estate markets, where estate agents work in the market of buying and selling real estate. Scottish civil law calls ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interbank Foreign Exchange Market
The interbank market is the top-level foreign exchange market where banks exchange different currencies. The banks can either deal with one another directly, or through electronic brokering platforms. The Electronic Broking Services (EBS) and Thomson Reuters Dealing are the two competitors in the electronic brokering platform business and together connect over 1000 banks. The currencies of most developed countries have floating exchange rates. These currencies do not have fixed values but, rather, values that fluctuate relative to other currencies. The interbank market is an important segment of the foreign exchange market. It is a wholesale market through which most currency transactions are channeled. It is mainly used for trading among bankers. The three main constituents of the interbank market are: * the spot market * the forward market * SWIFT (Society for World-Wide Interbank Financial Telecommunications) The interbank market is unregulated and decentralized. There is no s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prop
A prop, formally known as a (theatrical) property, is an object actors use on stage or screen during a performance or screen production. In practical terms, a prop is considered to be anything movable or portable on a stage or a set, distinct from the actors, scenery, costumes, and electrical equipment. This includes handheld items such as books, cups, weapons, and tools that actors interact with during a performance. Props help to create a realistic setting, convey information, or add to the storytelling by showing details about the characters or the environment. Term The earliest known use of the term "properties" in English to refer to stage accessories is in the 1425 CE morality play, '' The Castle of Perseverance''. During the Renaissance in Europe, small acting troupes functioned as cooperatives, pooling resources and dividing any income. Many performers provided their own costumes and small objects needed for performance, hence the term "property" suggesting these ite ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage Cashback
Some mortgage lenders, particularly in the United Kingdom, give a one-off lump sum payment to new borrowers at the beginning of a mortgage. Called cashback, this lump sum is often marketed as free cash, but it is in fact funded by the mortgage interest paid by the borrower. Amount The size of the lump sum is dependent on the size of the mortgage and is usually offered only on certain mortgages in a mortgage lender's range. Cashback on mortgages is popular with first time buyers, who put the cashback towards buying furniture, as these types of buyers often do not have any surplus funds after paying the deposit on their new home. Why lenders offer mortgage cashbacks Source: Mortgage lenders often provide incentive In general, incentives are anything that persuade a person or organization to alter their behavior to produce the desired outcome. The laws of economists and of behavior state that higher incentives amount to greater levels of effort and therefo ...s to allure new ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inflation
In economics, inflation is an increase in the average price of goods and services in terms of money. This increase is measured using a price index, typically a consumer price index (CPI). When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money. The opposite of CPI inflation is deflation, a decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index. Changes in inflation are widely attributed to fluctuations in Real versus nominal value (economics), real demand for goods and services (also known as demand shocks, including changes in fiscal policy, fiscal or monetary policy), changes in available supplies such as during energy crisis, energy crises (also known as supply shocks), or changes in inflation expectations, which may be self-fulfilling. Moderat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Equity Release
Equity release is a means of retaining use of a house or other asset which has Capital (economics), capital value, while also obtaining a lump sum or a steady stream of income, using the value of the asset. Pricing of no negative equity guarantee The UK Prudential Regulation Authority (United Kingdom), Prudential Regulation Authority expressed concerns in 2018 that firms investing in ERMs should 'properly reflect' the cost of the no-negative-equity guarantee. Its consultation paper CP 13/18, published 2 July 2018, provided a benchmark for valuing the guarantee. The paper recommended modelling the guarantee as a series of put options expiring at each period in which cash flows could mature, weighted by the probability of mortality, morbidity and pre-payment, using a version of the Black–Scholes model, Black–Scholes pricing formula. It recommended that the underlying price of the option should reflect the cost of deferred possession of the property, independent of any assump ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debit Card Cashback
Debit card cashback (also known as cash out in Australia and New Zealand) is a service offered to retail customers whereby an amount is added to the total purchase price of a transaction paid by debit card and the customer receives that amount in cash along with the purchase. For example, a customer purchasing $18.99 worth of goods at a supermarket might ask for twenty dollars cashback. The customer would approve a debit payment of $38.99 to the store, and the cashier would then give the customer $20 in cash. Debit card cashback is available through common payment networks like VISA, Mastercard, American Express. By providing an outlet for the cash that a store takes in, it reduces the store's need to deposit excess cash to a bank at the close of business. Many customers find it a useful way to obtain cash as it avoids them having to use a cash machine, which may incur additional fees. Coverage The service is offered by both banks and merchants in places such as the Czech Rep ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Closing Costs
Closing may refer to: Business and law * Closing (law), a closing argument, a summation * Closing (real estate), the final step in executing a real estate transaction * Closing (sales), the process of making a sale * Closing a business, the process by which an organization ceases operations Computing * Closing (morphology), in image processing * Finalize (optical discs), the optional last step in the authoring process * CLOSING, a TCP connection state Other uses * Closing a letter or e-mail (see valediction) * "Closing", a song by Enter Shikari from the album ''Take to the Skies'' See also * Closing argument * ''Closing Bell'', CNBC television programs * Closing credits * Closing statement (other) * Closing time (other) * Close (other) * Closed (other) Closed may refer to: Mathematics * Closure (mathematics), a set, along with operations, for which applying those operations on members always results in a member of the set * Closed se ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Home Equity Loan
A home equity loan is a type of loan in which the borrowers use the equity of their home as collateral. The loan amount is determined by the value of the property, and the value of the property is determined by an appraiser from the lending institution. Home equity loans are often used to finance major expenses such as home repairs, medical bills, or college education. A home equity loan creates a lien against the borrower's house and reduces actual home equity. Most home equity loans require good to excellent credit history, reasonable loan-to-value and combined loan-to-value ratios. Home equity loans come in two types: ''closed end'' (traditionally just called a home-equity loan) and ''open end'' (a.k.a. a home equity line of credit (HELOC)). Both are usually referred to as second mortgages, because they are secured against the value of the property, just like a traditional mortgage. Home equity loans and lines of credit are usually, but not always, for a shorter te ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Surety
In finance, a surety , surety bond, or guaranty involves a promise by one party to assume responsibility for the debt obligation of a borrower if that borrower defaults. Usually, a surety bond or surety is a promise by a person or company (a ''surety'' or ''guarantor'') to pay one party (the ''obligee'') a certain amount if a second party (the ''principal'') fails to meet some obligation, such as fulfilling the terms of a contract. The surety bond protects the obligee against losses resulting from the principal's failure to meet the obligation. Overview A surety bond is defined as a contract among at least three parties: * the ''obligee'': the party who is the recipient of an obligation * the ''principal'': the primary party who will perform the contractual obligation * the ''surety'': who assures the obligee that the principal can perform the task European surety bonds can be issued by banks and surety companies. If issued by banks they are called "Bank Guaranties" in English a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetary Base
In economics, the monetary base (also base money, money base, high-powered money, reserve money, outside money, central bank money or, in the UK, narrow money) in a country is the total amount of money created by the central bank. This includes: * the total currency circulating in the public, * plus the currency that is physically held in the vaults of commercial banks, * plus the commercial banks' reserves held in the central bank. The monetary base should not be confused with the money supply, which consists of the total currency circulating in the public plus certain types of non-bank deposits with commercial banks. Management Open market operations are monetary policy tools which directly expand or contract the monetary base. The monetary base is manipulated during the conduct of monetary policy by a finance ministry or the central bank. These institutions change the monetary base through open market operations: the buying and selling of government bonds. For exam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deutsche Bundesbank
The Deutsche Bundesbank (, , colloquially Buba, sometimes alternatively abbreviated as BBk or DBB) is the National central bank (Eurosystem), national central bank for Germany within the Eurosystem. It was the German central bank from 1957 to 1998, issuing the Deutsche Mark (DM). It succeeded the Bank deutscher Länder, which had introduced the DM on 20 June 1948. The Bundesbank was the first central bank to be given full independence, leading this form of central bank to be referred to as the "Bundesbank model", as opposed, for instance, to the "New Zealand model", which has a goal (i.e. inflation target) set by the government. The Bundesbank was greatly respected for its control of inflation through the second half of the 20th century. This made the German Mark one of the most respected currencies, and the Bundesbank gained substantial indirect influence in many European countries. As of 2023, its balance sheet total was €2.516 trillion, making it the 4th largest central bank ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
