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In Brief - Vancouver Sun
EAST RUTHERFORD, N.J. - Cleveland's LeBron James became the youngest player to score 11,000 career NBA points in Tuesday's game against the New Jersey Nets. The Cavaliers forward needed 13 points to succeed Kobe Bryant as the youngest player to reach ...

She got the car, he got the bad credit score - Los Angeles Times
Dear Liz: In our divorce, my ex was awarded the car but was supposed to make the payments. She is always behind, and since my name is on the car loan my credit scores remain low. Is there any way to get my name off the loan? Answer: Typically no, at ...

Just the Facts... - Safe Haven
For the week, the S&P500 dropped 8.3% (down 45.5% y-t-d), and the Dow fell 5.3% (down 39.3%). The Morgan Stanley Cyclical index was pounded for 11.9% (down 59.8%) and the Transports for 10.6% (down 31.7%). The Morgan Stanley Consumer index dropped 4 ...

Laurel Cove developers seek new lenders - Nashville Tennessean
The developers of the Laurel Cove golf course community in Williamson County are planning to refinance after the bankruptcy of lender Lehman Brothers Holdings Inc. Tentara Partners and Legacy Properties will turn to private investors to complete the ...

Shares of mortgage originator PHH climb - Forbes
Shares of PHH Corp. rose Wednesday after a Keefe, Bruyette & Woods analyst said the mortgage originator's liquidity remains strong, and concerns to the contrary are unwarranted. However, analyst Bose George cut his price target on the company's stock ...

Pilgrim's Pride at end of temporary credit line - USA Today
MILWAUKEE (AP) — The sky could be falling on Pilgrim's Pride Corp., the chicken industry's biggest producer. With its temporary financing ending on Tuesday and credit markets tight all around, the company faces an uncertain future. Some analysts ...

Maryann Haggerty and Elizabeth Razzi - Washington Post
Welcome to Real Estate Live, an online discussion of the Washington area housing market with Post Real Estate editor Maryann Haggerty and columnist Elizabeth Razzi. Maryann has been with The Post for 18 years and has served as real estate editor for ...

Options to solve credit challenges - Atlanta Journal Constitution
With mortgage delinquencies on the rise, many lenders are tightening their standards, even cutting out 100 percent financing altogether. In some cases, even borrowers with great credit are having to work harder to justify loan amounts. So what ...

PHH reports $84M in red ink - Philadelphia Business Journal
GBC joins health agencies' effort to prepare for a regional disaster Engel & Voelkers grows despite sour residential market Hunt deepens ski country ties PHH reports $84M in red ink ERA Oxford, Century 21 Alliance join forces in metro Birmingham PHH ...

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Today's Mortgage Terms starting with P

  • Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
  • Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
  • Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
  • Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
  • Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
  • Principal: It is the amount of money borrowed or owed, excluding interest.

    View all Terms
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