FIND TERM: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
- Re-age
- Real Estate Settlement Procedures Act (RESPA)
- Recent balance
- Recent payment
- Redlining
- Refinance
- Refund Anticipation Loan
- Regulation Z
- Repayment proposal
- Report number
- Reported since
- Repossession
- Reverse mortgage
- Revolving account
- Rewards card
- Risk-based pricing
- Risk scoring models
Interesting Facts
Rewards cards that provide cash rebates or airline ticket credits tend to be the most generous. Points that may be redeemed for merchandise or airline miles are more difficult to value and they tend to evaporate if you fail to make all payments on-time.
Refund anticipation loans can have effective interest rates over 600% APR.
Reverse redlining is still practiced by some lenders and retailers. Payday lenders, liquor stores and tax services touting refund anticipation loans actually prefer poor neighborhoods that are underserved by traditional banking institutions.
A voluntary repossession appears identical to an involuntary repossession on your credit report. There are still advantages though, such as reduced repossession and legal costs.
Counseling is required before a homeowner may sign a reverse mortgage. That way the homeowner understands the higher costs as well as the potential risks and rewards of a reverse mortgage.
