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UPDATE 2-UK regulator proposes BT wholesale price rises - Reuters
LONDON, Dec 5 (Reuters) - Ofcom, Britain's communications regulator, has proposed increasing the wholesale prices that BT Group (BT.L: Quote , Profile , Research , Stock Buzz ) charges other telecoms providers to cover the impact of inflation and ...

Bad for the store, bad for the mall - Marketplace.publicradio.org
Scott Jagow: Over the weekend, shopping mall owner General Growth Properties avoided bankruptcy -- barely. It got a two-week extension on -- you guessed it -- mortgage loans. More from Nancy Marshall Genzer. Nancy Marshall Genzer: General Growth ...

UPDATE 1-HSBC to make $367 mln gain from Metrovacesa deal - Reuters
LONDON, Dec 5 (Reuters) - HSBC (HSBA.L: Quote , Profile , Research , Stock Buzz ) will make a gain of 250 million pounds ($367 million) from the repurchase of its European headquarters in London after property firm Metrovacesa MV.MC failed to ...

Persimmon looks to refinance debt prematurely - Financial Times
Persimmon has become the latest housebuilder to look at prematurely refinancing its debt in an attempt to avoid a possible breach of its banking covenants. The developer has appointed NM Rothschild, the investment bank, to help it renegotiate terms ...

Interest rate drop opens door to refinancing - Austin American-Statesman
The recent sharp drop in mortgage interest rates is creating a window for homeowners nationwide to refinance and providing an incentive to people who have been holding back on buying a house. In the past week, mortgage rates for 30-year fixed loans ...

Signs aren't good for pulp mill - Eureka Times-Standard
The possibility that Evergreen Pulp will reopen in the next several months -- at least under its current ownership -- appears to be dimming. A skeleton crew of eight union workers walked away from the mill after Evergreen didn't pay them for two ...

Home Front: Foreclosed Sacramento property to sprout new houses - Sacramento Bee
At last, Home Front has found a more pleasant way to tell a foreclosure story. When Golden 1 Credit Union recently foreclosed on a 1-acre property near Rio Linda, it didn't just put it back on the market at a big loss. California's biggest credit ...

Russia's WBD in talks over $180 mln bank financing - FXStreet.com
MOSCOW, Dec 2 (Reuters) - Wimm-Bill-Dann (WBD), Russia's largest dairy company, is in talks with banks to raise about $180 million to cover delayed payments from retail chains, its board chairman said on Tuesday. David Yakobashvili told reporters the ...

UPDATE: Builders Soar On Lower Rates, But Pain Persists - CNN Money
NEW YORK -(Dow Jones)- Improved mortgage rates sent shares of home builders higher Wednesday, but no one thinks the residential crisis is over. As consumers raced to lock in lower rates, applications to refinance existing loans jumped 203.3% last ...

The Buzz: Dispelling retail myths - Post-Crescent
Most people by now have gotten multiple copies of the e-mail circulating on the Internet about massive store closures. It's true some retailers are closing or cutting underperforming stores in this weak economy. The e-mail, however, contains some ...

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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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