Charge-Off: the brand new part of principal and you can attract owed to your financing that is created out-of whenever considered become uncollectible
Co-Signer: a person who signs a credit software that have another person, agreeing are similarly accountable for the fees of the loan

Bucks Reserves: an earnings count sometimes expected of one's buyer becoming held during the set aside also the downpayment and you can closing costs; the amount depends upon the lending company.
