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GLOSSARY

GLOSSARY TERMS by Alpha
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Auto Loans
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Consolidation Loans
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Hazard Insurance
Home buyer Education Learning Program (HELP)
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Home Inspection
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Homeowner's warranty
Homeowners' association
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Housing ratio, or Debt-to-income ratio
HUD
HUD1 Statement
HVAC

Homeowners' association

A nonprofit association that manages the common areas of a planned unit development (PUD) or condominium project. In a condominium project, it has no ownership interest in the common elements. In a PUD project, it holds title to the common elements.

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