Hazard insurance
Insurance covering damage to a property from fire, wind, vandalism, or other hazards.

Home Equity Conversion Mortgage (HECM)
Or reversed mortgage. Instead of making payments to a lender, the lender makes payments to you. Loan based on equity instead of income. The loan does not have to be repaid until the borrower no longer occupies the property.

Home Equity Line of Credit
A mortgage loan allowing the borrower to obtain cash drawn against the equity of his home.

Homeowners Association
A nonprofit association that manages the common areas of a planned unit development (PUD) or condominium project.

Homeowner's Insurance
An insurance policy that combines personal liability insurance and hazard insurance coverage for a dwelling and its contents.

Homeowner's Warranty
A special insurance purchased by new homebuyers that cover repairs to certain items, such as heating or air conditioning, should they break down within the coverage period.

HUD-1 Settlement Statement
A document providing an itemized listing