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SEE ALL OF TODAY'S STORIES » - Grand Rapids PressCourtesy Photo The fraternity house where Jonathan Good allegedly stayed after escaping from the Mecosta County Jail. BIG RAPIDS -- Mecosta County Jail escapee Jonathan Joseph Good knew how to dress for his time on the lam -- he watched the Weather ...
House Race Update: Ohio Sup. Ct. to Rule on Franklin County Votes - ABC News BlogsABC News' Teddy Davis and Arnab Datta Report: A federal appeals court ruled Tuesday that the Ohio Supreme Court -- and not a federal district court -- is the proper forum to decide how approximately 1,000 challenged provisional votes should be ...
Mortgage rate drop spurs rush to lenders for refinancing - Detroit Free PressA sharp plunge in U.S. mortgage rates prompted a rush to refinance, resulting in record-setting business Tuesday at Livonia-based Quicken Loans and big days for other lenders. Following government efforts to unfreeze consumer credit, U.S. mortgage ...
No. 2 mall operator warns of bankruptcy - WZZM 13NEW YORK (CNNMoney.com & WZZM) -- General Growth Properties Inc., the No. 2 mall operator in the United States, has warned that an ongoing slump in retail sales, combined with the credit market lockdown, has pushed the company to the brink of ...
Grand Traverse Mall owner may face bankruptcy - Traverse City Record-EagleCHICAGO -- 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 ...
Bankruptcy threatens RiverTown Crossings owner - Grand Rapids PressGRANDVILLE -- It's unclear if West Michigan's largest mall, RiverTown Crossings, will go up for sale as owner General Growth Properties Inc. scrambles to refinance $1 billion debt due next month. But a change in ownership isn't expected to impact ...
Three commissioners decide to sell vs. lease - Grand Rapids Herald-ReviewCall it sealing the deal in the midst of a shaky economy—or—making a rushed decision that could mean the loss of money. This wager had Itasca County Commissioners at odds Wednesday as a rather large add-on item to an otherwise seemingly ...
ROTHBURY's future left hanging - MLive.comGRAND RAPIDS — The ROTHBURY festival faces a critical deadline next week if a second event will be produced next summer. The festival's immediate future is tied up in questions before U.S. Bankruptcy Court Judge Jeffrey R. Hughes on the suggested ...
How Obama Can Demonstrate Real Leadership on the Economic Crisis - Huffingtonpost.comWatching John McCain thundering against Wall Street greed is like tuning into to the old Lawrence Welk show to find him doing a polka version of a hard-core rap song ("A-one and a-two, motherfucker!"). Speaking yesterday outside an auto plant in ...
Today's Mortgage Terms starting with F
Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.
Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.
First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.
Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.
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