Page 167 - The-Mortgage-Maximiser-Method-by-Thomas-Ilinkovski

D

Debtor: ƉĞƌƐŽŶ Žƌ ŝŶƐƟƚƵƟŽŶ ƚŚĂƚ ŽǁĞƐ Ă ƐƵŵ ŽĨ ŵŽŶĞLJ ƚŽ ƐŽŵĞŽŶĞ ĞůƐĞ͘

Deed: ůĞŐĂů ĚŽĐƵŵĞŶƚ ƚŚĂƚ ƐƚĂƚĞƐ ĂŶ ĂŐƌĞĞŵĞŶƚ Žƌ ŽďůŝŐĂƟŽŶ ƌĞŐĂƌĚŝŶŐ
a property.

Default: Failure to abide by the terms of a mortgage or loan agreement. A

ĨĂŝůƵƌĞ ƚŽ ŵĂŬĞ ůŽĂŶ ƉĂLJŵĞŶƚƐ ;ĚĞĨĂƵůƟŶŐ ŽŶ ƚŚĞ ůŽĂŶͿ ŵŝŐŚƚ ƌĞƐƵůƚ ŝŶ ƚŚĞ
ŵŽƌƚŐĂŐĞ ŚŽůĚĞƌ ƚĂŬŝŶŐ ůĞŐĂů ĂĐƟŽŶ ƚŽ ƌĞƉŽƐƐĞƐƐ ƚŚĞ ŵŽƌƚŐĂŐĞĚ ƉƌŽƉĞƌƚLJ͘

Deposit: ĚĞƉŽƐŝƚ ŝƐ ŶŽƌŵĂůůLJ ƉĂŝĚ ďLJ ƚŚĞ ďƵLJĞƌ Ăƚ ƚŚĞ ƟŵĞ ŽĨ ĞdžĐŚĂŶŐŝŶŐ
ĐŽŶƚƌĂĐƚƐ͘ EŽƌŵĂůůLJ Ă ŵŝŶŝŵƵŵ ϱй ƚŽ ϭϬй ŽĨ ƚŚĞ ƚŽƚĂů ƉƵƌĐŚĂƐĞ ƉƌŝĐĞ ŝƐ
ƌĞƋƵŝƌĞĚ͘

Deposit bonds: 'ƵĂƌĂŶƚĞĞƐ ƚŚĂƚ ƚŚĞ ƉƵƌĐŚĂƐĞƌ ŽĨ Ă ƉƌŽƉĞƌƚLJ ǁŝůů ƉĂLJ ƚŚĞ
ĨƵůů ĚĞƉŽƐŝƚ ďLJ ƚŚĞ ĚƵĞ ĚĂƚĞ͘ /ŶƐƟƚƵƟŽŶƐ ƉƌŽǀŝĚŝŶŐ ĚĞƉŽƐŝƚ ďŽŶĚƐ ĂĐƚ ĂƐ Ă
ŐƵĂƌĂŶƚŽƌ ƚŚĂƚ ƉĂLJŵĞŶƚ ǁŝůů ďĞ ŵĂĚĞ͘

Direct debit: ZĞŐƵůĂƌ ĞůĞĐƚƌŽŶŝĐ ĚĞďŝƟŶŐ ŽĨ ĨƵŶĚƐ ĨƌŽŵ Ă ĐƵƐƚŽŵĞƌ͛Ɛ

ŶŽŵŝŶĂƚĞĚ ďĂŶŬͬďƵŝůĚŝŶŐ ƐŽĐŝĞƚLJ ĐŚĞƋƵĞ Žƌ ƐĂǀŝŶŐƐ ƐƚĂƚĞŵĞŶƚ ĂĐĐŽƵŶƚ ;Žƌ
some credit union accounts).

Disbursements: Miscellaneous fees and charges incurred during the
ĐŽŶǀĞLJĂŶĐŝŶŐ ƉƌŽĐĞƐƐ͕ ŝŶĐůƵĚŝŶŐ ƐĞĂƌĐŚ ĨĞĞƐ ĂŶĚ ĐŚĂƌŐĞƐ ƉĂŝĚ ƚŽ ŐŽǀĞƌŶŵĞŶƚ
ĂƵƚŚŽƌŝƟĞƐ͘

ŝƐĐŚĂƌŐĞ ĨĞĞƐ͗ Ŷ ĂĚŵŝŶŝƐƚƌĂƟŽŶ ĨĞĞ ƚŽ ĐŽǀĞƌ ƚŚĞ ĐŽƐƚƐ ŝŶĐƵƌƌĞĚ ŝŶ ĮŶĂůŝƐŝŶŐ
a loan account.

ŝƐĐŚĂƌŐĞ ŽĨ DŽƌƚŐĂŐĞ͗ A document signed by the lender and given to the
ďŽƌƌŽǁĞƌ ƚŚĂƚ ƐƚĂƚĞƐ ƚŚĂƚ ƚŚĞ ďŽƌƌŽǁĞƌ ŝƐ ŶŽ ůŽŶŐĞƌ ŽďůŝŐĂƚĞĚ ƚŽ ŵĂŬĞ ĨƵƌƚŚĞƌ
payments on the loan. This can be a result of the mortgage being paid in full
Žƌ ƌĞĮŶĂŶĐĞĚ ďLJ ƚŚĞ ďŽƌƌŽǁĞƌ

Disposable income: ŶLJ ŝŶĐŽŵĞ ůĞŌ ŽǀĞƌ ĂŌĞƌ Ăůů ŬŶŽǁŶ ĞdžƉĞŶƐĞƐ ŚĂǀĞ ďĞĞŶ
ŵĞƚ ;Ğ͘Ő͕͘ ůŽĂŶ ƉĂLJŵĞŶƚƐ͕ ďŝůůƐͿ͘

Draw down: dŽ ĂĐĐĞƐƐ ĂǀĂŝůĂďůĞ ůŽĂŶ ĨƵŶĚƐ͕ ƵƐƵĂůůLJ ƌĞĨĞƌƌŝŶŐ ƚŽ Ă ƐƚĂŐĞĚ ůŽĂŶ
ĨŽƌ ƉƌŽƉĞƌƚLJ ĐŽŶƐƚƌƵĐƟŽŶƐ͕ Žƌ ůŝŶĞƐ ŽĨ ĐƌĞĚŝƚ ǁŚĞƌĞ ƚŚĞ ůŝŵŝƚ ŝƐ ƐĞƚ ĂŶĚ ƚŚĞ
ďŽƌƌŽǁĞƌ ĐĂŶ ƵƐĞ ƚŚĞ ĨƵŶĚƐ ĂƐ ƌĞƋƵŝƌĞĚ͘

Duty (or Stamp Duty): ^ƚĂƚĞ 'ŽǀĞƌŶŵĞŶƚ ƚĂdž ŽŶ ĮŶĂŶĐŝĂů ƚƌĂŶƐĂĐƟŽŶƐ͘ &Žƌ
ƚŚĞ ƉƵƌĐŚĂƐĞ ŽĨ ƌĞĂů ĞƐƚĂƚĞ͕ ŝƚ ŝƐ ĐĂůĐƵůĂƚĞĚ ĂĐĐŽƌĚŝŶŐ ƚŽ ƚŚĞ ƉƌŽƉĞƌƚLJ ǀĂůƵĞ͘ /ƚ
also applies to the amount of the mortgage.

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