Non-Mortgage Contract definition

Non-Mortgage Contract. A retail installment contract between a Contractor and one or more Obligors which is not secured by a Mortgage and evidences the obligations of such Obligors to pay for the home improvements sold and/or installed by such Contractor, together with all schedules, supplements and amendments thereto and each other document and instrument related thereto.
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Related to Non-Mortgage Contract

  • High Cost Mortgage Loan means a Mortgage Loan classified as (a) a “high cost” loan under the Home Ownership and Equity Protection Act of 1994 or (b) a “high cost,” “threshold,” “covered,” or “predatory” loan under any other applicable state, federal or local law (or a similarly classified loan using different terminology under a law, regulation or ordinance imposing heightened regulatory scrutiny or additional legal liability for residential mortgage loans having high interest rates, points and/or fees).

  • Mortgage Assignment means an assignment of the Mortgage in recordable form, sufficient under the laws of the jurisdiction wherein the related Mortgaged Property is located to reflect the sale of the Mortgage.

  • Balloon Mortgage Loan A Mortgage Loan that provides for the payment of the unamortized principal balance of such Mortgage Loan in a single payment at the maturity of such Mortgage Loan that is substantially greater than the preceding monthly payment.

  • Pool 1 Mortgage Loans Any Mortgage Loan in Pool 1.

  • Blanket Mortgage The mortgage or mortgages encumbering a Cooperative Property.