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News about Mortgages:
Fannie Mae, Freddie Mac takeover causes mortgage rates to tumble - Santa Cruz SentinelThe federal government's takeover of Fannie Mae and Freddie Mac sent mortgage rates tumbling in California, raising hopes that the state's severely ailing housing market will get a boost. After the federal action Sunday, consumers with outstanding ...
Mortgage brokers, real estate agents: Rate drop is spurring activity - Santa Cruz SentinelThis week's fast decline in mortgage interest rates has created a surge of activity at Silicon Valley mortgage companies, as homeowners ponder refinancing and buyers decide whether to lock in a loan rate. Rates for borrowers with the best credit ...
Rights groups faults Wachovia's mortgage aid - San Francisco GateThursday, September 4, 2008 ACORN, an advocacy organization representing low-income communities, staged a rally at a Wachovia branch at Mission and First streets in San Francisco on Wednesday, with about 30 people calling on the bank to be more ...
Check stocks for effects of credit squeeze - San Francisco GateSunday, September 28, 2008 As you probably know, the credit market problems stem from bad mortgage loans that were bundled and sold to all sorts of investors, including corporations. As a result, some corporations holding bad loans failed. The ...
WaMu loaned millions to O.C. home flippers with fraud history - Orange County RegisterIn July 2007, Vijay and Supriti Soni of Corona del Mar paid $440,000 for a home at 2129 W. Civic Center Drive in Santa Ana. Five weeks later, they resold the house to Javier Hernandez – the family gardener and handyman – for $660,000. That's a 50 ...

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Today's Mortgage Terms starting with E
Equity: The difference between the current market value of a property and the total debt outstanding against the property.
Escrow: A transaction in which a third party represents both the buyer and seller, or for borrower and lender, involving the handling of legal documents and disbursement of funds. In some parts of the US, escrow of taxes and insurance premiums are referred to as impound or reserves.
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