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News about Mortgages:
GM, Ford too big to fail? - Detroit Free PressAfter this week's mind-numbing market meltdown, the big question for Michigan is: Are General Motors Corp. and Ford Motor Co. the next in line to need a government bailout? Or will a merger partner be needed? Who would imagine that we'd speculate on ...
UPDATE 1-Kazakhstan confident in oil sector despite crisis - ReutersALMATY, Oct 7 (Reuters) - Kazakhstan's oil sector is facing limited access to borrowing due to a global credit crisis but the overall sentiment is good and foreign interest remains strong, the energy minister said on Tuesday. The liquidity squeeze ...
Undernews: Rezko Alert - SlateMistakes Were Made! Frank Raines--Rhodes scholar, Harvard Law, Lazard Freres, potential future Treasury secretary, etc.--has blotted his copybook at Fannie Mae. (His bio has already ignominiously disappeared from its former spot on Fannie Mae's Web ...
Who do you expect to win tonight’s debate? - Atlanta Journal ConstitutionThe Obama camp is using the Keating deal against McCain, what a joke. McCain has already said that was the biggest mistake of his life and he was found to have done nothing wrong. At least he admitted it was a mistake to be associated with the deal ...
Uncertain times with bonds - Olathe Daily NewsAccording to a New York Times story published Wednesday, several municipalities across the country have delayed projects and may consider canceling some because they can’t find buyers for the bonds to fund them. Not so locally, or at least not yet ...
Almost half of region's office space sits empty: Commercial real ... - TradingMarkets.comConstruction of office parks and retail centers boomed over the past few years, but projects are now slowing and vacancy rates are growing as the economy struggles and financing becomes harder to obtain. About 46 percent of the 2.6 million square ...
Darling details £50 billion bank bailout plan - Times OnlineChancellor Alistair Darling today launched a drastic rescue of Britain's high street banks in move designed to head off a cataclysmic failure of confidence by announcing a part-nationalisation plan with £50 billion of taxpayers' money. He said there ...
Obama: Times too serious for petty attacks - Boston GlobeResponding to what is now a global financial crisis, Barack Obama today called for pragmatism not partisanship, offered some more detail on a plan to help small businesses, and tweaked his critique of Republican rival John McCain. "This is not a time ...
British taxpayer to be tied into £50bn bank bailout - Times OnlineTaxpayers will be committed today to providing more than £50 billion to bail out high street banks in an attempt to avert a cataclysmic failure of confidence. Alistair Darling was due to tell the City in an early morning announcement today that the ...
Foreclosure hits home as Sacramento County woman loses her house - Sacramento BeeShelly Smith-McClure endured a modern-day economic nightmare on Monday, losing a 15-month bid to avoid foreclosure and forestall eviction on her Herald home and property. By early afternoon, a locksmith was changing the locks on the two-story house ...

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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.
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