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General Growth Properties gets loan reprieve - Modesto Bee
Modesto pastor: Consider confession if you voted for Obama Pickup race ends in crash Victim is critical; police seek help Oh boy, the Petersons ... again St. Joseph's members back priest Obituaries in the news Car crash gives Modesto family a jolt ...

Tips on avoiding rescue scams - Modesto Bee
The Office of the Comptroller of the Currency, which was created by Congress to ensure national banks are safe and serving the needs of customers, gives these tips to avoid foreclosure rescue scams: Fake foreclosure counselors — Watch out for ...

Unpaid tax expected to soar - Modesto Bee
Drop off a check at the tax collector's office, 1010 10th St., Modesto, on or before April 10. No credit cards are accepted at the tax collector's office. Pay online at www.stancounty.com/tr-tax/on-line-services.shtm , or by calling 866-276-8196 toll ...

'Hope for Homeowners' gets a slow start - CNN Money
NEW YORK (Money) -- Everyone agrees that the only way to fix the financial crisis is to fix the housing market. Yet hundreds of billions of taxpayer dollars are being used to shore up failing banks. So far, efforts to stem the tide of foreclosures ...

Borrowers get a lifeline - Modesto Bee
There may be a way out of trouble, after all, for thousands of Northern San Joaquin Valley borrowers struggling with risky housing-boom mortgages from Countrywide Financial Corp. A legal settlement announced Monday by Countrywide's new parent company ...

US foreclosure rates up 27 percent in August, slower than July and ... - Minneapolis Star Tribune
Foreclosure filings in August increased 27 percent compared to the same month a year ago, a significantly slower pace than in previous months, according to data released Thursday. Nationwide, 303,800 homes received at least one foreclosure-related ...

Rural communities hit hard by foreclosures, too; farms fall under the ... - AG Weekly
MERCED, Calif. - The end came in a blink outside the Merced County courthouse. Only six people showed up for the foreclosure auction, Janice Pimentel and her son Nick included. By chance, the Pimentels’ dairy farm was the first property offered ...

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Today's Mortgage Terms starting with D

  • Default: Failure to fulfill legal obligations of a contract, including failure to make payments on a loan.
  • Discounted Loan: When the note rate on a loan is lower than the market rate, it is a discounted loan.
  • Discount Point: A point paid to the lender to permanently lower or acquire down an interest rate. Money must be paid up front to lower the rate.
  • Down Payment: The amount of cash you must pay down initially for the purchase of your home. For conventional loans, you should aim for a down payment that's at least 20% of your home's value. The reason is lenders generally do not require private mortgage insurance with a down payment of at least 20% of your home's purchase price.

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