Cash-Out Refinancing:
Cash-out refinancing is the act of taking out a new mortgage that exceeds the existing balance on a current mortgage with the intention of refinancing the original mortgage and receiving cash back.

Credit Report:
A credit report is a financial report that contains detailed information about an individuals credit history.

Credit Score:
The term credit score is used to describe the three-digit number between 500 and 850 that appears on credit reports. In essence, this number represents an estimate of an individual’s financial creditworthiness.

Debt:
A debt is an obligation to pay or render something (usually money) to someone else.

Debt Consolidation:
Debt consolidation entails taking out one loan to pay off several other loans and/or accounts.

Debt Consolidation Scam:
A debt consolidation scam is a form of fraud perpetrated by an illegitimate debt consolidation service.

Debt Negotiation:
Debt negotiation is the act of negotiating with creditors to get them to lower interest rates and debt amounts.

Debt Restructuring:
Debt restructuring is a method used by individuals or organizations to alter the terms of debt agreements and obligations in hopes of achieving some sort of financial advantage.

Debt Settlement:
Debt settlement occurs when a creditor agrees to settle for a dollar amount that is lower than the actual amount owed.

Home Equity Loan:
A home equity loan allows you to borrow money and use your homes equity as collateral.

Secured Loan:
A secured loan requires the borrower to pledge some from of collateral against the loan.

Unsecured Loan:
An unsecured loan does not require the borrower to pledge any collateral against the loan. The lender relies solely on the borrowers promise to repay