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budget mortgage |
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Budget Mortgage A mortgage that consolidates insurance and tax payments into the principal and interest. This allows the property owner to write one check each month for all housing expenses. Most mortgages on residential properties are budget mortgages. See also: PITI. budget mortgage Typically a residential mortgage,one that requires monthly payments for real estate taxes and insurance in addition to principal and interest payments. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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