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News about Mortgages:
Local Prices Down 30 Percent from Peak - Voiceof San DiegoWednesday, Aug. 27, 2008 | Home prices in San Diego dropped again in June, reaching a point not seen since September 2003, according to the Standard & Poor's/Case-Shiller Index released Tuesday. June's price index for resale houses fell 30 percent ...
FHA loans come to rescue of home buyers - Delaware OnlineThe Magnolia resident was drowning in bills and wanted to refinance, but with home prices declining, her consolidated debt totaled almost as much as her home was worth. But the quick refinancings and easy credit of years past were drying up ...
Seawall divides city - Corpus Christi CallerGeorge Gongora/Caller-Times State law creates a public easement of 200 feet along all beaches. By the mid-1990s, the beach (seen at high tide) had eroded so much that nearby hotels and condos were within the public easement. The state Legislature ...
That sinking feeling - Delaware OnlineFrom the moment in March 2006 when Melissa and Greg Thomas moved into the $445,000 house they built on five acres in Clayton, they knew they could barely afford it. Because of various problems that arose during construction, the Thomases have been ...
Ford Announces 2007 Fourth Quarter and Full Year Preliminary Results ... - PR NewswireDEARBORN, Mich., Jan. 24 /PRNewswire-FirstCall/ -- Ford Motor Company (NYSE: F) today reported a 2007 full-year net loss of $1.35 per share, or $2.7 billion. This compares with a 2006 full-year net loss of $6.72 per share, or $12.6 billion. Ford's ...
Senate may pass mortgage aid plan as soon as today - Reading EagleWASHINGTON - A mortgage aid plan is on track for passage in the Senate as soon as today. The massive foreclosure rescue bill cleared a key Senate test yesterday by an overwhelming margin, with Democrats and Republicans both eager to claim election ...

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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.
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