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For local buyers, mortgage harder to get as banks require more - Pantagraph“On the other side of that, I don’t know if we can give them a loan,” Maschhoff said. Borrowers who want to get a new home mortgage, refinance a home loan or open up a home equity line of credit are up against some challenges in today’s ...
Powder at Social Security office was food substance - PantagraphSeventeen employees and about 10 clients were evacuated about 2:30 p.m. from the building at 207 N. Williamsburg Drive. Bloomington firefighters, including their hazardous-materials response team, police, the FBI and the Department of Homeland ...
Warsaw issues bonds to replace roof, keeps Sunday graduation - Journal PilotThe Warsaw School District can move forward to replace the roof on its 1957 building with the school board's approval Thursday of issuing general obligation bonds. The district is borrowing $370,000 in new money for the life/safety project to replace ...
Commercial real estate feels pinch: Concerns mount for income ... - TradingMarkets.comThe commercial real estate market in the metropolitan area and across the county has been feeling the effects of the subprime housing lending meltdown for more than year, with tight credit slowing what had been a brisk market in income-producing ...
Five Star Quality Care, Inc. Q3 2008 Earnings Call Transcript - Seekingalpha.comGood day everyone and welcome to the Five Star Quality Care third quarter 2008 earnings results conference call. This call is being recorded. At this time, for opening remarks and introductions, I would like to turn the conference over to the ...
Today's Mortgage Terms starting with M
Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.
Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.
Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.
Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.
Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).
Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.
Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment.
Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment.
View all Terms