A B C D E F G H I J K L M
N O P Q R S T U V X W Z

M

Margin
The amount a lender adds to the index on an adjustable rate mortgage to establish the adjusted interest rate.
Market Value
The highest price that a buyer would pay and the lowest price a seller would accept on a property. Market value may be different from the price a property could actually be sold for at a given time.
Mortgage
A voluntary lien filed against property to secure a debt, usually a loan. To foreclose, the lender must often institute a court action and the borrower may have the right to reclaim the property after foreclosure. Compare, Deed of Trust.
Mortgage Insurance
Money paid to insure the mortgage when the down payment is less than 20 percent. See Private Mortgage Insurance or PMI Mortgage Insurance.
Mortgagee
The lender.
Mortgagor
The borrower of homeowner.