Merced Mortgage Refinance and Information Online from competing Lenders

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Homeowner help: HUD-certified advisers, more refinancing available - Modesto Bee
Not everyone who offers to help homeowners avoid foreclosure is legitimate. Con artists try to profit off people's pain by offering financing or foreclosure rescue deals that end up hurting homeowners. The Office of the Comptroller of the Currency ...

U.S. Foreclosures Hit Record in August as Housing Prices Fell - Bloomberg
Sept. 12 (Bloomberg) -- U.S. foreclosure filings rose to a record in August as falling home prices made it harder to sell or refinance homes to pay off the mortgage, RealtyTrac Inc. said. Owners of 303,879 properties, or one in 416 U.S. households ...

Final report on 2007 housing: It was the year of the plunge - Modesto Bee
By most estimates, the valley leads the nation in foreclosures, a trend exacerbated by falling home prices that make it more difficult for owners in mortgage trouble to refinance or sell. Dismal figures on valley real estate sales and prices released ...

Foreclosure filings increase at slower rate - MSNBC
Foreclosure filings in August increased 27 percent compared to the same month a year ago, a significantly slower pace than in previous months, according to data released Thursday. Nationwide, 303,800 homes received at least one foreclosure-related ...

Foreclosure filings increase at slower rate; banks helping out - USA Today
Foreclosure filings in August were up 27% compared with the same month a year ago, but that's a significantly slower pace than in previous months, according to data released Friday. Nationwide, 303,800 homes received at least one foreclosure-related ...

U.S. foreclosure filings slow; Washington rates outpace nation's - Seattle Times
Foreclosure filings nationwide rose at a significantly slower year-over-year pace in August than in previous months, according to data released Thursday. In Washington state, filings rose sharply higher than the U.S. pace, although the rate of ...

Borrowers get a lifeline - Modesto Bee
and Jim Wasserman There may be a way out of trouble, after all, for thousands of Northern San Joaquin Valley borrowers struggling with risky housing-boom mortgages from Countrywide Financial Corp. A legal settlement announced Monday by Countrywide's ...

US foreclosure filings surge 55 percent - Associated Press
WASHINGTON (AP) -- The number of homeowners stung by the dramatic decline in the U.S. housing market jumped last month as foreclosure filings grew by more than 50 percent compared with the same month a year ago, according to data released Thursday ...

Foreclosure filings slow, but continue to increase - MLive.com
AP File Photo A record 9 percent of American homeowners with a mortgage were either behind on their payments or in foreclosure at the end of June, 2008. Foreclosure filings in August increased 27 percent compared to the same month a year ago, a ...

REAL ESTATE: Foreclosure filings creep higher Top three states are ... - Las Vegas Review Journal
Foreclosure filings in August, with Nevada leading the nation, increased 27 percent compared to the same month a year ago, a significantly slower pace than in previous months, according to data released Thursday. Nationwide, 303,800 homes received at ...

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Today's Mortgage Terms starting with P

  • Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
  • Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
  • Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
  • Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
  • Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
  • Principal: It is the amount of money borrowed or owed, excluding interest.

    View all Terms
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