A person who connects home buyers with mortgage lenders for a fee (usually paid by the lender) The broker's service is in providing the lowest mortgage rate that makes it worth the fee for the service. … [Read more...] about LOAN BROKER
L
LIVRE TOURNOIS
com. law. A coin used in France before the revolution. It is to be computed in the ad valorem duty on goods, at eighteen and a half cents. … [Read more...] about LIVRE TOURNOIS
LOAN COMMITMENT
A promise by a lending institution to loan money to a real estate investor for a specified sum and rate provided the transaction occurs within a stated period of time. … [Read more...] about LOAN COMMITMENT
LJ
Common abbreviation for "Law Judge" and "Law Journal." … [Read more...] about LJ
LOAN CONSOLIDATION
The process of combining several loans into one loan, usually for the purpose of reducing interest payments by paying off the high interest rate loans with a loan at a lower rate. … [Read more...] about LOAN CONSOLIDATION