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Citigroup plans a leaner future, cuts 53,000 jobs - WTOP RadioNEW YORK (AP) - Citigroup , widely seen as the sickest Wall Street bank, will make some of the most severe cuts in the history of U.S. business _ 53,000 jobs _ as it tries to slash costs and get back to basics before it's too late. The cuts, which ...
Consider the source when buying gift cards - Evening StarGift cards are a popular holiday purchase, but buyers and recipients should remember the cards are only as good as the issuer. Federal law does not require retailers and other gift-card issuers to honor the cards in the event of bankruptcy because ...
Latest Pictures - Newstrack IndiaNew Delhi, Sep 30 (ANI): Russia will start deliveries of MiG-29K Fulcrum-D carrier fighters to India in the spring of 2009 . Russia and India signed... and four two-seater MiG-29KUB by 2009 , to be deployed on the Admiral Gorshkov Russia to start ...
ARM Holders Would Do Well to Shop Around Now - Washington PostThe global financial crisis has affected virtually every aspect of personal finance, from mortgages to student loans to credit cards to retirement savings. So it's no surprise that so many of our readers have so many questions. Our first one comes ...
MacAlpine: Wishing we could bail on this bailout - Georgetown RecordI feel like the designated driver who still wakes up with a hangover Sunday morning. I feel like I ate nothing but a sticks-and-twigs diet for three months, while everyone else shoveled in cheesecake, and I still gained weight. I feel like I looked ...
LIKE A HOUSE ON FIRE - New York PostWashington is abandoning its feel-good outlook and appealing for help from Congress and the financial industry to fix the worsening housing recession before it wreaks more havoc. Treasury Secretary Henry Paulson yesterday reversed himself with a bold ...
McCain's plan to overpay mortgage lenders - SalonThe McCain mortgage bailout mystery thickens. Even though a good case can be made that the plan is a repackaging of earlier Democratic efforts to get aid to homeowners, the Obama campaign is opposing it: John McCain wants the government to massively ...
The Feds' Next Step After Rescuing Banks - BusinessWeekBy Jane Sasseen So far, attempts to slow the foreclosure epidemic at the center of the crisis have had little impact. Despite "voluntary" industrywide efforts to rework troubled mortgages—efforts that Treasury Secretary Henry Paulson jawboned banks ...
Our Family Legal Expert Answers Your Questions - CNBCQ. What is the rule of thumb on refinancing real estate if the property is held in a Revocable Trust? -- Stewart, CA A. First of all, congratulations for having your real estate owned in the name of your revocable living trust. This is the best way ...
Maryann Haggerty and Elizabeth Razzi - Washington PostWelcome 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 ...
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.
View all Terms