H.E.L.O.C.
See Home Equity Line Of Credit.

HELOC
See Home Equity Line Of Credit.

HUD
The U.S. Department of Housing and Urban Development.

Hazard Insurance
Insurance protecting against loss to real estate caused by fire, some natural causes, vandalism, etc., depending upon the terms of the policy.

Home Equity Line Of Credit
A credit line that is secured by a second deed of trust on a house. Equity lines of credit are revolving accounts that work like a credit card, which can be paid down or charged up for the term of the loan. The minimum payment due each month is interest only.

Home Equity Loan
A loan secured by a second deed of trust on a house, typically used as a home improvement loan.

Homeowner's Insurance Declaration
A document accompanying a homeowner's insurance policy whose purpose is to verify that the homeowner’s property is, in fact, properly insured.

Homeowners' Association
A nonprofit corporation or association that manages the common areas of a condominium or PUD project. In a condominium, the association has no ownership interest in the common areas. In a PUD, the association holds title to the common areas.

Homeowners' Association Fees
Monthly or annual fees associated with owning a condominium or living in a planned unit development (PUD). These fees can cover building and property maintenance, trash removal services, the cost of landscaping public areas, homeowner's or hazard insurance, and other fees.

Homeowners' Policy
A hazard insurance policy that provides protection for the home. It might also cover public liability, theft and a general floater.

Housing Ratio
The ratio of the monthly housing payment in total (PITI -- Principal, Interest, Taxes and Insurance) divided by the gross monthly income. This ratio is sometimes referred to as the 'top ratio' or 'front-end ratio.'