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Loans reach new depths - AgeLow-doc mortgages were sold to struggling consumers and now many are worse off, reports Tim Elliott. In late 2005, Mandy, a 55-year-old postal worker from the NSW Central Coast, heard an advertisement on her radio for a company called Professional ...
Retailers brace for slower holiday shopping season - Orlando Business JournalLocal shopping malls and retail merchants, faced with the prospect of sluggish sales during the traditionally hectic holiday shopping season, are trying new strategies to lure in more foot traffic. For instance, Orlando Fashion Square is adding ...
Milwaukee reps get Joint Finance Committee posts - Milwaukee Journal SentinelNov. 13, 2008 5:37 p.m. | Madison - Two Milwaukee Democrats were named Thursday to the Legislature's powerful Joint Finance Committee - giving the state's largest city a consolation prize a day after Milwaukee was shut out of top leadership jobs in ...
2008 (2665) - Dakota Voice► January 16 - January 23 (1) You don't see this kind of courage in a lot of adults, much less a 6-year old. From the Atlanta Journal-Constitution and ABC News comes word of a young boy who rescued his 5-year old friend from drowning. Josiah, who ...
This U-turn shows the Bank to be way behind the curve - Guardian UnlimitedMervyn King will have the simplest task in the world next Wednesday when he unveils the Bank of England's quarterly inflation report. His statement should be short and concise: eleven words should suffice. "We made a total hash of things, and we are ...
Ford Still Shopping Mazda Stake; Tata Uninterested - BusinessWeekIndian workers assemble a Tata car at the Tata Motors factory in Pune. ROB ELLIOTT/AFP/Getty Images In recent times, it seems, every time an auto brand is put up for sale India's Tata Motors ( TTM ) is mentioned as a possible buyer. In June, it was ...
Xstrata needs no refinancing, Q3 copper down 8 pct - ForbesLONDON, Oct 21 (Reuters) - Mining group Xstrata (other-otc: XSRAF.PK - news - people ) Plc said on Tuesday it is well placed with financing and posted solid third-quarter production results, except in mined copper, its most important metal. Xstrata ...
Grant to benefit homebuyers in 9 counties - Daily IndependentAshland — A $100,000 grant from the U.S. Department of Agriculture should make the process of buying a home a little easier in Carter and Elliott counties, as well as other parts of eastern Kentucky. The grant, which was presented to Frontier ...
Northrim BanCorp Reports Third Quarter Profits of $1.6 Million, - MSN MoneyCentralANCHORAGE, Alaska, Oct. 23, 2008 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (Nasdaq:NRIM) today reported that net income was $1.6 million, or $0.24 per diluted share for the third quarter of 2008 after taking a provision for loan loss reserves of $2 ...
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