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Implied call

• The right of the homeowner to prepay, or call, the mortgage at any time.

 
 

Follow this link for all the terms related to call.

 
 Embedded terms in definition
 Call
Mortgage
Right
Time
 
 Related Terms
 

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Tips for Trying to Fix a Clogged or "Frozen" Home Equity Line: For years, homeowners have turned to home equity lines of credit (HELOCs) as a way to borrow against their home's value to pay for college tuition, home improvements, medical bills and other major expenses. (A home's equity is the market value minus what is owed on the mortgage. If you owe $100,000 on your mortgage but your home is worth $250,000, your equity is $150,000.) More...

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