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Likely Muhlenberg Township budget calls for tax increase - Reading Eagle
Muhlenberg Township commissioners approved a preliminary budget Monday that calls for increases in the property-tax rate and trash-collection fee. The proposed $11.45 million budget reflects a combination of increased fees, cost cutting and borrowing ...

Mall’s owners may face bankruptcy - Lake Wales News
General Growth Properties Inc., owners of the Eagle Ridge Mall in Lake Wales, saw its stock plummet this week after the mall owner warned it faces solvency trouble and may be forced to file for bankruptcy if it can't refinance or extend nearly $1 ...

Young Russian boys find new family in America - Daytona Beach News-Journal
ORMOND BEACH -- Two backpack-toting brothers strolled up the driveway kicking pine cones on their way home from the bus stop after a day at Ormond Beach Middle School. Seventh-grader Sasha and eighth-grader Dimitry were greeted by their dad, Richard ...

Gen-Probe, KeyCorp, Microsoft, Sprint, TiVo: U.S. Equity Movers - Bloomberg
Nov. 21 (Bloomberg) -- The following companies are having unusual price changes in U.S. trading . Stock symbols are in parentheses, and share prices are as of 11:50 a.m. in New York. Metal producers advanced as gold headed for the biggest weekly gain ...

Amgen, J.M. Smucker, Ligand: U.S. Equity Movers (Correct) - Bloomberg
Nov. 21 (Bloomberg) -- The following companies are having unusual price changes in U.S. trading . Stock symbols are in parentheses, and share prices are as of 1:20 p.m. in New York. Metal producers advanced as gold headed for the biggest weekly gain ...

School for the blind starts visionary newsroom - Newark Star-Ledger
Ed Murray/The Star-Ledger Judy Ortman, interim executive director of the Concordia Learning Center, is interviewed by student Indigo Estevez from Newark for the school paper. There's a buzz in the newsroom of a New Jersey start-up newspaper, and not ...

Hamburg School District may refinance $25 million loan - Reading Eagle
Hamburg School District officials fear they could deplete the district's reserve fund if they don't soon begin refinancing a $25 million loan. Since September, the district has paid about $110,000 more in interest than it has received in what is ...

The Truth about the Mortgage Crisis—Helping Consumers Understand the ... - dBusinessNews.com
Michael Isaacs , president, Residential Finance Corp. clarifies misinformation and confusion about home mortgage loans, adjustable rate mortgages and refinance for consumers, explaining mortgage availability and opportunities for borrowers Can anyone ...

Mortgage Lender Residential Finance Corp. Expands into Former IndyMac ... - dBusinessNews.com
Tampa - Residential Finance Corporation (RFC), a nationwide home mortgage lender specializing in refinance, today announced that the company has expanded operations in Tampa with a move to Class A office space at One Metro Center in the MetWest ...

Grand Traverse Mall owner may face bankruptcy - Traverse City Record-Eagle
CHICAGO -- General Growth Properties Inc. shares plummeted this week after the mall owner warned it faces solvency trouble and may be forced to file for bankruptcy if it can't refinance or extend nearly $1 billion in debt due next month. The real ...

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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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