Glossary of terms
Balance Sheet: A financial statement listing Assets, Liabilities, and Owner's
Equity at a specific point in time. Also known as a Statement of Financial
Position or Statement of Assets and Liabilities.
Borrowing: Incurring an obligation to repay a debt in order to invest or
consume more than one currently owns.
Brokerage Fee: Fee charged by a mortgage broker for arranging a loan.
Builders Lien: A claim registered against the title to land by a contractor,
Supplier of materials or workman with respect to work done or materials
supplied to improve that land.
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