Mortgage Glossary (N)
You searched for information on mortgage glossary n
Negative Amortization: An increase in the balance of a loan caused by adding unpaid interest to the loan balance; this occurs when the payment does not cover the interest due.Net Worth: The value of a company or individuals assets, including cash, less total liabilities.
Nonliquid Asset: An asset that cannot easily be converted into cash.
Note: A written promise to pay a specified amount under the agreed upon conditions.
Note Rate: The interest rate stated on a mortgage note, or other loan agreement.
Net Income: Difference between AGI and operating expenses. Depreciation may or may not be included.