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Schools look to new occupation tax to boost revenue - Telegraph
School districts throughout the state are considering going to voters to get approval of a new tax allowed by recently passed legislation. The Illinois County Schools Facility Occupation Tax Law legislation took effect in October 2007, after ...

Bailout: What's in it for homeowners - CNN Money
NEW YORK (CNNMoney.com) -- The revised $700 billion bailout legislation unveiled Sunday calls for the Treasury Secretary to implement a plan to stem foreclosures and to work with servicers to modify loans. But some community advocates say the bill ...

Bailout: Little help for homeowners - CNN Money
NEW YORK (CNNMoney.com) -- The $700 billion bailout legislation now under consideration by Congress calls for the Treasury Secretary to implement a plan to stem foreclosures by working with servicers to modify loans. But many housing experts question ...

Subprime Lending Hurts Homeowners - Social Funds
The Center for Responsible Lending contends that subprime lending has led to a net loss in homeownership. SocialFunds.com -- Not since the Great Depression has the mortgage market faced harder times, asserts a new report from the Center for ...

Saving the Wealthy Class from Itself - OpEdNews.com
The Gilded Age of America occurred after the Civil War and coincided with the industrial revolution of that period in which great wealth was concentrated to the upper classes.  The wealth concentration to the very few resulted from the owners of ...

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Today's Mortgage Terms starting with J

  • Jumbo Loan: A mortgage over the $300,700 limit established by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. A jumbo mortgage tend to carry a higher interest rate than a conventional mortgage.
  • Junior Mortgage: A mortgage subordinate to the claim of a prior lien or mortgage. In the case of a foreclosure, a senior mortgage or lien will be paid down first.

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