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News about Mortgages:
SUMNER SQUEEZE - New York PostNational Amusements, the movie-theater chain that controls Sumner Redstone's interests in Viacom and CBS, faces the difficult task of getting more than 50 institutions to unanimously agree on revised terms to refinance $800 million of the company's ...
M&S cuts 1,000 jobs as fashion sales dive - Times OnlineHigh street fashion retailers were the first big losers of 2009 as Britain returned to work yesterday to face the worst employment prospects in a generation. Marks & Spencer will announce massive job losses tomorrow after dire Christmas trading ...
Mortgages: What You Need to Know in 2009 - Yahoo NewsWith all the doom and gloom over housing, you might be surprised to know that this is a fantastic time to get a mortgage. Not if you have poor credit, to be sure. But you can get a great deal on a 30-year, fixed-rate, conforming loan these days if ...
The big names preparing to face the music - The AgeLAST year saw the retirement, sacking or spectacular self-demolition of dozens of high-profile Australian business players. A few of them left of their own free will. One or two left with their reputations enhanced. And some barely made it out of ...
Survival of the Fittest - Times OnlineSo far, this recession feels deeply unfair. The financial firms that plunged the world into a credit freeze have, in many cases, been bailed out. The brunt of job losses will be borne by innocent workers who had faithfully manned the shop floors of ...
RE-FINANCE YOUR HOMES RIGHT NOW - New York PostDear John: I'm a longtime reader and you don't get enough credit for your humor. I just visited my bank to see if I could re-finance my mortgage and what the rate would be. I found out it is now 5 percent on a 30-year loan. I am currently paying 6.25 ...
2008 The Year in Review, - Manhasset PressNighttime closures on the Roslyn Viaduct construction begin Jan. 21 for the protection of motorists and workers. The Tower Foundation of Manhasset holds presentations on Interactive Whiteboards (IAW). Tower's goal is to place an IWB in every ...
Today's Mortgage Terms starting with L
Lender: The bank, mortgage company or mortgage broker providing the loan.
Loan Application: A statement of personal and financial information needed to apply for a loan.
Loan Application Fee: A fee applied by a lender to cover the initial costs of putting through a loan application. The fee could include the cost of getting a property appraisal, a credit report and a lock-in fee and other closing costs incurred to complete the transaction.
Loan Origination Fee: Fee charged by a lender for the administrative costs of processing a loan.
Loan to Value Ratio (LTV): The balance of the mortgage outstanding as a percentage of the home's price.
Lock or Lock In: A lender's guarantee of an interest rate for a specific period of time. The time period is usually between the loan application approval and loan closing. The borrower wants the lock to stay in effect until closing.
View all Terms