Home equity

The unencumbered value of an owner's home. Equity is calculated by subtracting any liens and unpaid mortgage principal from the fair market value of the home. Equity increases as loans are paid down and the home increases in value.
Source: http://www.dreamtown.com/mortgage/mortgage-terms.html

Loan Modifications

Loan Modifications are changes to your loan agreement. Your payments get more affordable, and you don’t have to default on your loan. We choose to offer loan modification programs because it is easier to work with you than to go after you.

Mortgage

An official document which states that if the borrower were to cease making payments on the home loan, the lender would have the legal right to take ownership over the property.
Source: http://www.dreamtown.com/mortgage/mortgage-terms.html

Mortgage Refinance

Situation whereby a borrower acquires a new loan | mortgage in order to cover an existing one. Reasons why borrowers take this step is to reduce their interests rates and | or liquidate cash from their home equity.
Source: http://www.dreamtown.com/mortgage/mortgage-terms.html

No cash-out refinance

A mortgage that carries with it an interest rate that is lower than the costs incurred from the property's closing and the starting principal amount of the loan.
Source: http://www.dreamtown.com/mortgage/mortgage-terms.html

Refinancing

The act of taking out a second mortgage in order to cover payments on a first mortgage. Most often, the purpose for which homeowners undertake such an action is to derive interest rates that are lower than under the original mortgage or to convert equity in the home into quick money.
Source: http://www.dreamtown.com/mortgage/mortgage-terms.html

Refinance a Car Loan

Car loan refinancing can save you quite a bit of money. This is especially true if you financed your car several years ago when the interest rates were higher. If you can get a car refinance loan at a lower rate than you might be able to save some money. Many of the autos financing companies listed above do offer auto refinancing loans.
Source: http://www.car-loans-123.com/comparecarloans.html

Second mortgage

Loan that is considered to be adjunct to the first or original mortgage. This loan is secured by the equity of the property.
Source: http://www.dreamtown.com/mortgage/mortgage-terms.html

80 20 loan mortgage

Also referred to as a “tandem” loan, an 80-20 mortgage involves taking out two loans to pay for the entire cost of a home. The first mortgage consists of eighty percent of the purchase price, while the 2nd loan pays for the twenty percent which would more typically be paid for with a down payment. The only up-front expenses are the closing costs.