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News about Mortgages:
Mortgage rates drop to lowest level since January - Fort Worth Star-TelegramSaginaw woman gets 10 years for role in beating death Blockbuster will roll out 99-cent video rentals in January Food news and notes: Central Market Southlake adds cooking school; holiday events in Colleyville, North Richland Hills and Dallas Dallas ...
Final pieces falling into place for new Cowboys stadium - Fort Worth Star-TelegramWorkers put straps on an autographed steel beam before hoisting it to the top of the new Cowboys stadium. STAR-TELEGRAM/MAX FAULKNER Dallas' Preston Hollow abuzz after announcement that Bushes plan to live there Saginaw woman gets 10 years for role ...
Michigan tries to slow foreclosures - Detroit NewsLANSING -- Scrambling to do something about Michigan's rampant home foreclosure problem before the holidays, Gov. Jennifer Granholm and lawmakers are working on a flurry of bills to ease the squeeze on cash-strapped homeowners. Various measures would ...
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 ...
Michigan Man Charged With Murdering Wife - FOX NewsThirty-five-year-old Jose Olguin was charged Wednesday with open murder and carrying a dangerous weapon with unlawful intent. He remains in custody at the Saginaw County Jail. Olguin is charged with killing his wife, 32-year-old Erica Olguin. Her ...
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