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News about Mortgages:
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1 in 33 Homeowners Projected to Be in Foreclosure Within the Next Two ... - PR NewswireNew Report Highlights Actions States Are Taking To Help Mitigate The Mortgage Crisis And Urges Federal Legislation To Take State Efforts Into Account WASHINGTON, April 16 /PRNewswire-USNewswire/ -- One in 33 homeowners is projected to be in ...
Bumpy Ride Ahead for Bankers - Inside Higher EdAfter years of operating in a favorable political environment, student loan companies woke up November 8 knowing that changes in Washington would probably mean trouble for their industry, which has enjoyed a close working relationship with ...
Bad bond deal at City Hall expected to cost New Orleans taxpayers $400 ... - New Orleans Times-PicayuneAs disastrous moves go, it would be tough to top the city of New Orleans' decision eight years ago to sell $171 million in bonds and invest the proceeds in the stock market as a way of shoring up an underfunded pension plan for firefighters. As if on ...
Hoppy's Commentary for Friday - Metro NewsBanks and brokers thought sub-prime mortgages were a new way to get rich while Washington politicians served as enablers. But some of us are complicit as well because we, like the federal government, have abandoned the concept of deferred ...
INDUSTRY NEWS & PEOPLE March 2007 - Business Travel ExecutiveThe NBTA Foundation has announced the retirement of four members from its Board of Trustees and the appointment of their successors. The four outgoing Board members are Fay Beauchine, Carlson Companies; Mathias Friess, Virgin Blue; Susan Jacobs, Visa ...
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