SILENT SECOND MORTGAGE
A silent second mortgage is a secondary mortgage on an asset. What makes it silent is the fact that it is not disclosed to the original loan lender. The use of silent second mortgage is for purchasers that are not able to afford the initial mortgage’s required payment. This may be classified as a kind of fraud.
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Tuck School of Business
Business school of Dartmouth College located in Hanover, New Hampshire. Founded in 1900, the school is considered as one of the leading and oldest ...
Construction Interest Expense
Interest incurred during the construction phase of a building or any other tangible property due to a construction loan. It accrues until the proje ...
Individual Development Account - IDA
Savings account designed for lower income individuals. Specifically, it is used for education, purchasing a first home, or starting a business. Sav ...
Decision Support System - DSS
A computerized information system used to support decision-making in an organization or business. A DSS enables users to sift through and analyze m ...
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