Definition
Homeowners Association
An organisation governing a community or building, funded by dues and empowered to levy assessments and enforce covenants.
Nearby terms
HELOC
A home equity line of credit — a revolving, usually variable-rate credit line secured by the property, typically in second lien position.
Home Equity Loan
A fixed-rate lump-sum loan secured as a second lien against the property.
Homestead Exemption
A property tax reduction available on a primary residence in many states, and in some states a protection against certain creditors.
Housing Ratio
The front-end debt-to-income ratio, measuring only the housing payment against gross income.
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