FLOOD INSURANCE >> Insurance indemnifying against loss by flood damage. Required in federally designated special Flood Hazard Areas. The insurance is private but federally subsidized.

FLOOR >> The lowest an adjustable-rate mortgage rate can ever be during the life of the loan.

FLOOR RATE >> The start rate on an adjustable-rate program.

FORECLOSURE >> A proceeding in or out of court, to extinguish all rights, title, and interest, of the owner of property in order to sell the property to satisfy a lien against it.

FOSTER CARE AGREEMENT >> A document that designates an individual as the foster parent of a child. These agreements usually state the income the individual will receive for being a foster parent.

FREE AND CLEAR >> Real property against which there are no liens, especially voluntary liens.

FRONT-END DEBT RATIO >> This refers to the debt ratio calculation using only principal, interest, tax and insurance divided by gross monthly income. It?s expressed as a percentage.