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Meltdown far from over, new mortgage crisis looms - Newark Advocate
WASHINGTON (AP) -- Black Friday's retail shoppers hunting for holiday bargains won't be enough to stave off what's likely to become the next economic crisis. Malls from Michigan to Georgia are entering foreclosure, commercial victims of the same ...

Pitt's Blair expected to play despite knee scare - FOX News
PITTSBURGH — Pitt center DeJuan Blair is expected to play Friday night when the No. 4 Panthers face Texas Tech in Newark, N.J. Blair developed swelling in his right knee before sitting out Pitt's 74-60 victory over Belmont on Tuesday night. An MRI ...

House Race Update: Ohio Sup. Ct. to Rule on Franklin County Votes - ABC News Blogs
ABC News' Teddy Davis and Arnab Datta Report: A federal appeals court ruled Tuesday that the Ohio Supreme Court -- and not a federal district court -- is the proper forum to decide how approximately 1,000 challenged provisional votes should be ...

Real-Time News - Newark Star-Ledger
• Football: Millburn plays Madison during their Thanksgiving game • Football: Millburn plays Madison during their Thanksgiving game • Football: Millburn plays Madison during their Thanksgiving game Drowning in debt, and citing a weak retail and ...

Minnesota Bridge Collapse - FOX News
24 hours earlier, this was a busy on ramp to I-35W. A crush of media flocked to the scene and quickly began broadcasting news of the bridge collapse. A second location favored by the media is the top of the Holiday Inn's parking deck. Crew members ...

Easy Soft Announces Easy HUD Product Will Meet Newly Issued U.S ... - dBusinessNews.com
Newark - NORTH BRUNSWICK , NJ – November 18, 2008 – Easy Soft, an industry leader in law office automation software and services, today announces their real estate closing software product, Easy HUD, will meet all RESPA Final Rule requirements ...

State joins U.S. in combating the plague of ousted families and ... - Newark Star-Ledger
The state and federal governments will embark on a two-pronged, $100 million-plus plan to help New Jerseyans before they lose their homes and stabilize neighborhoods that are being devastated by the rise in foreclosures. In his address to the ...

Eastridge owner's stock tumbles - San Jose Business Journal
Stock in General Growth Properties Inc. , the Chicago real estate investment trust that owns Eastridge shopping center in San Jose and five other major Bay Area shopping centers, tumbled to a 52 week low Thursday after falling 37 percent Wednesday ...

Latest News - dBusinessNews.com
EvoLogue Continues Growth With New Team Members PARSIPPANY - EvoLogue, a full-service consumer agency of CommonHealth that ... New Jersey Machine Shops, Industrial Distributors and Manufacturers Find New Customers On-line Buy American, an on-line ...

Mall owner’s stock tumbles - Sacramento Business Journal
General Growth Properties Inc. , the Chicago real estate investment trust behind the stalled Elk Grove Promenade shopping center and another project in Folsom, saw the value of its stock fall 37 percent Wednesday amid concerns about the company's ...

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Today's Mortgage Terms starting with F

  • Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
  • Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.
  • Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
  • FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.
  • First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
  • Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.
  • Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.

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