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Vets have new options for home loans - Herald-DispatchHUNTINGTON -- Veterans with home loans now have new options for refinancing to a Department of Veterans Affairs (VA) guaranteed home loan. The new law makes changes to VA's home loan refinancing program. Veterans who want to refinance their subprime ...
Consider the source when buying gift cards - Evening StarGift cards are a popular holiday purchase, but buyers and recipients should remember the cards are only as good as the issuer. Federal law does not require retailers and other gift-card issuers to honor the cards in the event of bankruptcy because ...
Police say teens planned to rob Water St. club patrons - Milwaukee Journal SentinelOct. 31, 2008 | Police arrested six teenagers, including a 13-year-old armed with a pistol, who police say were conspiring to rob patrons outside a downtown nightclub shortly after midnight. Milwaukee Police Sgt. Mark Stanmeyer said a security guard ...
Body found in Milwaukee River is identified - Milwaukee Journal SentinelNov. 11, 2008 11:20 p.m. | West Bend - A World War II veteran who survived the bombing of Pearl Harbor collapsed during a Veterans Day ceremony in Washington County and was pronounced dead Tuesday. John Weinberger, 85, collapsed Tuesday morning as he ...
Today's Mortgage Terms starting with F
Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.
Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.
First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.
Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.
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