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Viewer Stories: Living Paycheck To Paycheck - WSB-TV AtlantaThe economy has caused my employer to cut me to a 3/4 worker, cutting my wages but still putting me above the line to qualify for underemployment. I've spent months searching for a new job without luck. I refuse to look beyond the tri-city area ...
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McCain's Mortgage Plan Calls for Lowering Rates for Homeowners - BloombergMcCain's Mortgage Plan Calls for Lowering Rates for Homeowners By Sharon L. Lynch Oct. 10 (Bloomberg) -- Republican John McCain 's plan to refinance distressed home loans includes cutting mortgage rates to just above 5 percent for troubled borrowers ...
McCain's Plan Calls for Government to Buy Mortgages (Update4) - BloombergMcCain's Plan Calls for Government to Buy Mortgages (Update4) By Alison Fitzgerald and Sharon L. Lynch Oct. 8 (Bloomberg) -- Republican presidential candidate John McCain is proposing the government divert some money set aside for buying mortgage ...
St. Louis Galleria could be forced to declare bankruptcy - KSDKKSDK -- The owner of one of the biggest shopping malls in St. Louis could be forced to file for bankruptcy. General Growth Properties, which owns the St. Louis Galleria, has filed a statement with the U.S. Securities and Exchange Commission. The ...
Local mall operator says it's at risk for default - Boston GlobeThe mall operator whose portfolio includes such local shopping centers as Natick Collection (above), Faneuil Hall Marketplace , and Providence Place warned that it faces solvency trouble. Shares of General Growth Properties Inc. fell yesterday after ...
Hillsborough County targets areas for housing rehab plan - St. Petersburg TimesPALM RIVER — Armando Celeiro came here from Cuba with $100 in his pocket. Forty-odd years later he's a furniture manufacturer and real estate investor, proud of his achievements and bullish on his community. Hillsborough County housing officials ...
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LETTER: We need to preserve the American family - Fremont TribuneStand up and be counted. This is a very important election to us citizens of the United States. Do we want to continue to celebrate our constitutional freedoms or be slaves to a socialist government? With Barack Obama’s plan, the working class will ...
Summit County resort execs stay upbeat about season - Summit Daily NewsTaking part in the annual Summit County Chamber’s Chief Operating Officer’s Breakfast at Copper Mountain Wednesday included the COO’s from the county’s four ski resorts from left, Alan Henceroth, Arapahoe Basin; Pat Campbell, Keystone; Lucy ...
Today's Mortgage Terms starting with M
Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.
Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.
Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.
Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.
Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).
Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.
Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment.
Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment.
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