Michigan Center Mortgage Refinance and Information Online from competing Lenders

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News about Mortgages:

The next meltdown: Commercial property - Seattle Post Intelligencer
WASHINGTON -- Black Friday's retail shoppers hunting for holiday bargains won't be enough to stave off what's likely to become the next economic crisis. Malls from Michigan to Georgia are entering foreclosure, commercial victims of the same events ...

Malls are next to face foreclosure - Herald Tribune
Even as the holiday shopping season begins in full swing, the same events poisoning the housing market are now at work on commercial properties, and the bad news is trickling in. Malls from Michigan to Georgia are entering foreclosure. Hotels in ...

Mortgage crisis looms for commercial buildings - Rocky Mountain News
Black Friday's retail shoppers hunting for holiday bargains won't be enough to stave off what's likely to become the next economic crisis. Malls from Michigan to Georgia are entering foreclosure, commercial victims of the same events poisoning the ...

Office, hotel sectors feel the heat - Delaware Online
The same events poisoning the housing market are now at work on commercial properties, and the bad news is trickling in -- malls from Michigan to Georgia are entering foreclosure. Hotels in Tucson, Ariz., and Hilton Head, S.C., also are about to ...

Shopping malls, hotels near mortgage default; more looming - The Columbus Dispatch
WASHINGTON -- Black Friday's retail shoppers hunting for holiday bargains won't be enough to stave off what's likely to become the next economic crisis. Malls from Michigan to Georgia are entering foreclosure, commercial victims of the same events ...

Economic Meltdown Far From Over, New Mortgage Crisis Looms - FOX News
WASHINGTON — Black Friday's retail shoppers hunting for holiday bargains won't be enough to stave off what's likely to become the next economic crisis. Malls from Michigan to Georgia are entering foreclosure, commercial victims of the same events ...

Meltdown far from over, new mortgage crisis looms - Associated Press
WASHINGTON (AP) -- Black Friday's retail shoppers hunting for holiday bargains won't be enough to stave off what's likely to become the next economic crisis. Malls from Michigan to Georgia are entering foreclosure, commercial victims of the same ...

Commercial mortgages could melt down next - 10 News
Washington - The full scope of the housing meltdown isn't clear, and already there are ominous signs of a new crisis - one that could turn out the lights on malls, hotels and storefronts nationwide. Even as the holiday shopping season begins in full ...

New crisis in commercial real estate looms - MSNBC
Nov. 26: President-elect Barack Obama announced a new Economic Recovery Advisory Board to be headed by former Fed Chairman Paul Volcker. NBC's Savannah Guthrie reports. WASHINGTON - The full scope of the housing meltdown isn’t clear and already ...

Next Round Of Foreclosures To Hit Retail - CBS News
(CBS/AP) Black Friday's retail shoppers hunting for holiday bargains won't be enough to stave off what's likely to become the next economic crisis. Malls from Michigan to Georgia are entering foreclosure, commercial victims of the same events ...

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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