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Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

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Common Terms 1   Common Terms 2

Hague Convention Nations

There are various Hague Convention Nations who participate in an agreement regarding authentification of notarized documents. If a notarized document is accompanied by an apostille, it can be recognized...

Hardship Letter 30 Day Notice

In this document, the borrower agrees that they are aware that their first mortgage payment may be due within thirty days of the signing and that it doesn't create a hardship for them. There are many...

Hazard Insurance

A form of insurance that protects the insured from specified losses, such as fire, windstorm, and other hazards. Hazard insurance is also called home insurance or homeowners insurance.

Hazard Insurance Authorization and Requirements

In this document, the lender requires the borrower to have a hazard insurance policy against losses due to property damage caused by fire, storms, or other types of dangerous events.

Health Care Power of Attorney

A power of attorney that specializes in addressing issues relating to health care for the grantor. The patient / grantor appoints an agent to make health care decisions should the grantor become incapable of...

HELOC

A HELOC or Home Equity Line of Credit is a credit line that is secured by a second deed of trust on the borrower's house. Equity lines of credit are revolving accounts that function like a credit...

Home Equity Line of Credit

A HELOC is a credit line that is secured by a second deed of trust on a house. Equity lines of credit are revolving accounts that work like a credit card, which can be paid down or charged up for the term of the loan. There is...

Home Equity Loan

A loan secured by a second deed of trust on a house, typically used as a home improvement loan. A home equity loan can sometimes be the first or third lien on a house in some circumstances. You need to have a...

HUD

The U.S. Department of Housing and Urban Development. This is a cabinet department in the executive branch of the United States Federal Government. HUD has programs for community planning and development, support for housing for elderly...

HUD-1

A document similar to the settlement statement that discloses all fees and closing costs associated with the loan.  Also known as the HUD and the Settlement Statement.