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News about Mortgages:
Brown tells the lenders to cut mortgage rates - ScotsmanBANKS were under growing pressure last night to pass on dramatic savings to borrowers after the Bank of England slashed interest rates by 1.5 percentage points. Only Lloyds TSB confirmed it would adjust mortgage rates immediately, despite demands ...
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Today's Mortgage Terms starting with E
Equity: The difference between the current market value of a property and the total debt outstanding against the property.
Escrow: A transaction in which a third party represents both the buyer and seller, or for borrower and lender, involving the handling of legal documents and disbursement of funds. In some parts of the US, escrow of taxes and insurance premiums are referred to as impound or reserves.
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