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Radio Address by President Bush to the Nation - ForbesWASHINGTON, Oct. 11 /PRNewswire-USNewswire/ -- The following is a transcript of the weekly radio address by President Bush to the nation: THE PRESIDENT: Good morning. Over the past few days, we have witnessed a startling drop in the stock market ...
Countrywide to pay $10M for bad loans - Detroit NewsMore than $9.8 million will be paid to assist Michigan homeowners who have lost their homes to foreclosure and nearly 10,000 residents will be able to refinance their mortgages at lower rates under a nationwide settlement between Countrywide ...
'Serious global response' - CNN MoneyNEW YORK (CNNMoney.com) -- President Bush on Saturday once again tried to reassure a nervous public that world leaders were working together to address the worst global financial crisis since the Great Depression. "We recognize that the turmoil in ...
Bush seeks to reassure Americans in face of crisis - Khaleej TimesWASHINGTON - US President George W. Bush on Saturday sought to reassure Americans about the long-term health of the US economy in the face of an acute financial crisis. "In the short term, we'll continue to face challenges," Bush said in his weekly ...
Chicago Tribune Mary Umberger column: If you can buy/refinance now, do ... - TradingMarkets.comThe reasoning: Investors were pouring out of stocks and into bonds. Plus, resolving (to an extent) the messes of Washington Mutual and Wachovia Corp. might bring the market a step closer to pegging the true value of a home loan on Wall Street. Like I ...
Mortgage relief deal - Chicago Sun-TimesNearly 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 ...
More states likely to help at-risk homeowners - Columbus DispatchOhio and eight other states have established programs to help homeowners refinance loans they couldn't afford or take out emergency loans to get them through a difficult financial time. More states might soon offer home loan refinancing programs ...
Beyond Uncle Sam’s Big Bailout - US News and World ReportHere’s a can’t-miss moneymaking idea, no charge. Quickly surf over to CafePress.com, the mecca for design-it-yourselfers, and create a customized T-shirt emblazoned with this soon-to-be lament of your fellow Americans everywhere: “I just paid a ...
Drip, drip: Capital spigot opens in D.C. just a little - Washington Business JournalRepublic Properties’ Portals III, only 45 percent leased, snagged $212 million in bridge financing arranged by Cassidy & Pinkard Colliers. Despite the lockdown in the credit markets, a handful of large projects in D.C. have snagged money for ...
PersonalFinance: Resolving your own credit crisis - ForbesWASHINGTON, Oct 8 (Reuters) - Washington may be taking care of Wall Street, but consumers with a personal credit crisis are on their own. Their problems can take many forms. Some homeowners still are saddled with a mortgage they can't afford to keep ...

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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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