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Economist: It's going to get worse before it gets better - Santa Rosa Press DemocratJobless ranks could hit 10 percent and home prices will continue to fall across California, with Sonoma County feeling its share of the worsening downturn, according to an economic forecast released Friday. The worst recession to hit the state and ...
Register for FREE - Wall Street JournalPlease register to gain free access to WSJ tools. An account already exists for the email address entered. Affordable mortgages got us into this mess and, according to Treasury Secretary Hank Paulson, they will get us out. Or will they? Paulson ...
2008 (2665) - Dakota Voice► May 22 - May 29 (1) To assuage conservatives, McCain has rolled out endorsements from leading conservatives and aired a new television ad that mentions Ronald Reagan. He plans to attend a major gathering of conservatives later this month. The ...
Mortgage relief deal - Beacon NewsNearly 11,000 Illinoisans with Countrywide mortgages -- most of them in the Chicago area -- are expected to get help to avoid foreclosure after Countrywide's new owner, Bank of America, agreed to an $8.7 billion settlement with Illinois and 10 other ...
New manager for market? - Boston GlobeMerchants at Faneuil Hall Marketplace are asking the City of Boston to run the outdoor shopping center if their current landlord, General Growth Properties Inc. , files for bankruptcy protection. General Growth, the second-largest US mall operator ...
Financial Meltdown Alters Local Lending Behavior - Flathead BeaconThe crisis roiling the U.S. financial sector has riveted the nation’s nervous attention for nearly two weeks as Congress scrambled to negotiate a bailout plan and the stock market took more ups and downs than the Going-to-the-Sun Road. The ...
Chuey's fans lament sale of the iconic eatery's site - San Diego Union-TribuneChuey's Numero Uno Restuarant at 1901 Main Street. BARRIO LOGAN – Ana Acosta remembers Chuey's – well, not just the San Diego restaurant, but its namesake, the man who started it more than 50 years ago. The Bonita resident spoke while on a break ...
Paulson: The Deal Is on Its Way - CNBCIf you are dumbfounded by the amount of money the federal government is pouring into the private sector to ease the nation's financial crisis, click ahead for a big-budget ride through time. Paulson told a national housing conference that this effort ...
Editorial: Alternatives to raising Pike tolls - MetroWest Daily NewsThe Massachusetts Turnpike Authority's fiscal plight is easily explained. It is stuck with $2.5 billion in Big Dig debt, and moves to refinance that debt through exotic "swaptions" deals backfired. With the Patrick Administration promising reforms to ...
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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