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Financial News
Slimy loan hits home - TriVallyCentral
COPAKE--For many in Columbia County the sub-prime mortgage mess seems abstract--something happening elsewhere--a sound bite on the national news. But for Kathleen Avery of Mountain View Road, the mortgage crisis is an unrelenting nightmare she ...

Should politics be preached from a pulpit? - Boston Globe
The Alliance Defense Fund , a conservative Christian legal advocacy organization, is causing a bit of a stir with its call for clergy this Sunday to speak out about candidates for public office, in defiance of IRS regulations limiting political ...

The Communist Manifesto Turns 160 - Common Dreams
This year marks the 160th anniversary of The Communist Manifesto and capitalism-- a k a "free enterprise"--seems willing to observe the occasion by dropping dead. On Monday night, some pundits were warning that the ATMs might run dry and hinting ...

How to solve the crisis - bbc
It's into the dangerous land of hubris that I'm going to stray today. I have a plan (perhaps better than a Baldrick-style cunning one) that might just ease the credit-crunch pressure in the UK and help to fill the UK's yawning pensions hole, the ...

True cost of the rescue - bbc
The US Government has just admitted that the financial system was on the verge of total meltdown. And it's right. On Thursday, even blue chip companies were having difficulty rolling over their short-term borrowings. Armageddon was minutes away ...

McCain says government ’forced’ to bail out AIG - Natchez Democrat
WARREN, Ohio (AP) — Republican presidential candidate John McCain, a day after flatly rejecting the idea of a taxpayer bailout for American International Group Inc., said Wednesday that the government had been ‘‘forced’’ into proposing an ...

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Today's Mortgage Terms starting with E

  • Equity: The difference between the current market value of a property and the total debt outstanding against the property.
  • Escrow: A transaction in which a third party represents both the buyer and seller, or for borrower and lender, involving the handling of legal documents and disbursement of funds. In some parts of the US, escrow of taxes and insurance premiums are referred to as impound or reserves.

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