MoneyU Glossary of Terms


MoneyU Glossary of Terms


Browse the glossary using this index

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L

Liquidate

To convert an asset into ready cash.

Liquidity

How quickly you can turn your investment into ready cash.

Living Trust

A trust that is established while the grantor is still alive. Compare to testamentary trust.

Loan

An amount of money given to somebody on the condition that it will be paid back later.

Loan Origination Fee

A fee charged by the lender for processing the loan; often expressed as a percentage of the loan amount.

Lock-In

A written agreement guaranteeing a home buyer a specific interest rate on a home loan, provided that the loan is closed within a certain period of time, such as 60 or 90 days. Often the agreement also specifies the number of points to be paid at closing.

Long-term care Insurance

Covers specific costs of custodial care in a nursing facility or at home.

Luxury Tax

A luxury tax is placed on "luxury items" that aren't considered essential for living. These include high-priced items like jewelry or expensive cars. So bread and milk at your grocery stores won't be taxed because they're considered "essentials".

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