HOME EQUITY CONVERSION MORTGAGE - HECM
A type of Federal Housing Administration (FHA) insured reverse mortgage. Home Equity Conversion Mortgages allow seniors to convert the equity in their home to cash. The amount that may be borrowed is based on the appraised value of the home (subject to FHA limits), and the age of the borrower (borrowers must be at least 62 years old). Money is advanced against the value of the home. Interest accrues on the outstanding loan balance, but no payments must be made until the home is sold or the borrower(s) die, at which point the mortgage must be repaid entirely. Because the home secures the mortgage, no credit check is made on the borrower.
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CFP Franc - XPF
Currency of four French overseas collectives including French Polynesia, Futuna, New Caledonia, and Wallis. The Institut d'émission d ...
IRS Publication 575
A document that outlines the tax treatment of distributions from pensions and annuities, as well as the process of reporting income from these dist ...
Homeowners Association Fee - HOA Fee
A fee that has to be paid by owners of a residential property to an organization that helps with maintaining and improving that property.
Deep-Discount Bond
A bond that sells at a significant discount from par value. A bond that is selling at a discount from par value and has a coupon rate significantly ...
Non-Spouse Beneficiary Rollover
A retirement plan asset rollover performed in the event of the death of the account holder, where the recipient is not the spouse of the deceased. ...
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ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 06:30 | Tertiary Industry Index | Apr | |
| 08:00 | Wholesale Price Index | May | |
| 08:30 | Producer & Import Prices | May | |
| 09:00 | SECO Consumer Confidence | May | |
| 10:00 | Trade Balance | Apr | |
| 11:00 | Current Account (sa) | Apr | |
| 11:00 | Industrial Production | Apr | |
| 14:15 | Housing Starts | May | |
| 14:30 | NY Fed Empire State manufacturing index | Jun |
