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Lawmakers do deserve a little credit - Houston Chronicle
AUSTIN — It may be small comfort for those of you who have just opened your 401(k) quarterly statements to know that Texas, as Gov. Rick Perry reminded us the other day, has at least been spared the worst of the housing mortgage mess. Indeed, many ...

Scarborough-Holbrooke Tension Convention - News Busters
Let's take a break from the tedious MSM spin on the latest polls, and settle back and enjoy the televised spectacle of two people who patently dislike each other going at it on live national TV. Former UN Ambassador/current Obama backer Richard ...

Motorcyclist hospitalized - Connellsville Daily Courier
A Fayette County man was in fair condition Wednesday at Ruby Memorial Hospital in Morgantown, W.Va., after a two-vehicle wreck Tuesday in Menallen. Mark Lowery, 57, of Uniontown was eastbound on New Salem Road as a car driven by Mallory Perry, 20, of ...

Bryan sues area power agency - Denton Record-Chronicle
An agency that provides power to Denton and three other Texas cities is facing a legal challenge over its plan to refinance millions of dollars in debt. The city of Bryan sued the Texas Municipal Power Agency and its other members, Denton, Greenville ...

CenturyTel and EMBARQ to Merge - MobileTechNews
[CenturyTel to acquire Embarq in a transaction worth $11.6 billion.] Monroe, LA and Overland Park, Kan. -- CenturyTel, Inc. and Embarq Corporation announced today that their Boards of Directors have approved a definitive agreement under which ...

Register for FREE - Wall Street Journal
Please register to gain free access to WSJ tools. An account already exists for the email address entered. So Congress finally approved a bailout plan. Over the coming days, pundits and economists will debate the virtues and pitfalls of the $700 ...

UNTIL THE DTV TRANSITION - WSAZ
Posted by: Sue on Oct 19, 2008 at 06:45 PM I would like to say something about the last Presidential Debate. I think that John McCain acts like a broken record. And the debate that happened down in Tenn., he looked like a robot moving around I had to ...

Business Digest - Providence Journal
Boston-based Fidelity Investments, one of the biggest employers in Rhode Island with more than 2,400 workers in Smithfield, confirmed yesterday that it will eliminate about 1,700 jobs in the first three months of next year, adding to previously ...

Liberty County has over 13,000 registered for FEMA - North Channel Sun
As of October 9, 1008, Liberty County has 13,295 people registered for FEMA assistance. According to Liberty County Office of Emergency Management Director Tom Branch, everyone should registered for FEMA. All FEMA applicants must register within 60 ...

Obama's Sub-Prime Conflict - Common Dreams
I remember my first piggy bank: a little pink piggy, made of plastic, with a little slot at the top. The slot was big enough, perhaps, to fit a half dollar, a great deal of money to me at the time."A penny earned is a penny saved," my father told me ...

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Today's Mortgage Terms starting with M

  • Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.
  • Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.
  • Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.
  • Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.
  • Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).
  • Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
  • Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.
  • Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment.
  • Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment.

    View all Terms
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