An ABC2 News Investigators Exclusive:
MORTGAGE MELTDOWN

LENDING LINGO
by ABC2 News Investigator Tisha Thompson

Don’t know what you’re mortgage broker or your friends are talking about, but are afraid to ask? You’re not alone. Even though consumer advocates like Consumer Federation of America says it’s the “most important transaction someone will make in their lifetime,” they point out that it’s also the “most complicated transaction.” Consumer advocates says the lending industry purposefully makes lending lingo confusing to give lenders an advantage when negotiating a loan with homeowners.

To help you fight back – the ABC2 News Investigators created the only “Lending Lingo Dictionary” of its kind on the Internet. We’ve compiled definitions from the Federal government and consumer groups of the most confusing, but at the same time most popular, words you will hear during a loan negotiation.

Just click on the word to see its written definition. Or you can watch as lending experts try to define what the word means in their own terms.

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