Flexible Loan Insurance Program Law and Legal Definition
Flexible Loan Insurance Program (FLIP) is a loan in which a portion of the borrower's down payment is placed in an interest bearing savings account and the principal and interest from the account are used to subsidize the monthly mortgage payments. FLIP permits borrowers to increase their payments as their income supposedly increases.
Legal Definition list
Related Legal Terms
- 8 A Program
- Ability One Program
- Abuse in Later Life Program [Department of Justice]
- Academic Competitiveness Grant (ACG) Program [Education]
- Accelerated Life Insurance Benefits
- Accelerated Nursing Degree Program
- Accident Insurance
- Accidental Death and Dismemberment [Insurance]
- Accommodation Line [Insurance]
- Accountants Professional Liability Insurance
