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Today's Mortgage Terms starting with H

Home Equity Line of Credit:

A type of revolving credit in which your home is used as collateral.

Home Equity Loan:

A revolving line of credit or loan based on the equity in the mortgagor's property. The property is the collateral for the loan, which is usable for any purpose.

Housing and Urban Development (HUD):

A U.S. government agency created to introduce federal housing and community development programs; manages the Federal Housing Administration.

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This is a really hard time for developers," said Rohtas Goel, chairman and managing director of leading real estate firm Omaxe. "On one hand, sales are dropping because of rising home loans and on the other, developers are facing a credit crunch ...

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