horseÂ·shoe. n. 1. A flat U-shaped metal plate fitted and nailed to the bottom of a horse's hoof for protection. 2. A U-shaped object similar to a horseshoe. 3. horseshoes (used with a sing. verb) A game in which players toss horseshoes or horseshoe-shaped metal pieces at a stake so as to encircle it or come closer to it than the other players.
What is the 'Loan-To-Value Ratio - LTV Ratio'. The loan-to-value ratio (LTV ratio) is a lending risk assessment ratio that financial institutions and others lenders examine before approving a mortgage.
The loan was originated on or before May 31, 2009. The current loan-to-value (LTV) ratio must be greater than 80 percent. The borrower must be current on their mortgage with no late payment in the last six months and no more than one late payment in the last 12 months.