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News about Mortgages:

N. Idaho company delays spinoff plan - Seattle Times
Potlatch Corp. has announced it will delay its plan to create a spinoff company in northern Idaho because of turmoil in the credit markets. LEWISTON, Idaho — Potlatch Corp. has announced it will delay its plan to create a spinoff company in ...

Company now will have Clearwater tap credit line, take some of its ... - Spokane Journal of Business
Potlatch Corp., the big Spokane-based wood-products concern, says the national credit crisis has forced it to change how it will finance the planned spin-off of its pulp-based operations into a new publicly traded company called Clearwater Paper Corp ...

US foreclosure filings up 71 percent in 3Q - Buffalo News
The number of homeowners ensnared in the foreclosure crisis grew by more than 70 percent in the third quarter of this year compared with the same period in 2007, according to data released Thursday. Nationwide, nearly 766,000 homes received at least ...

Today's Mortgage Terms starting with N

Notice of Default: A step in the foreclosure process in which the lender formally informs the court that the borrower is in late in payments.

Non-Assumption Clause: A provision in a mortgage contract preventing the assumption of the mortgage by another borrower without the lenders permission.

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