Help & Glossary
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Lease - An extended rental agreement which gives a person the use of a product or object of value without owning it.
Lenders Single Interest - A type of insurance coverage (LSI) that protects only the lender, covering the collateral on a loan.
Lessee - Someone who has a lease for something.
Lessor - The person, or business entity, who grants a lease to someone.
Levy - To seize or collect.
Lien - A claim against property which is allowed by the law as security for repayment for a debt.
Lienholder - One who holds a lien or the owner of mortgaged property.
Line of Credit - The limit of the amount of money a lender will give a particular customer.
Loss Payee - The person or company designated as the one to receive payment, in the event of a claim on an insurance policy.
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