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School for the blind starts visionary newsroom - Newark Star-LedgerEd Murray/The Star-Ledger Judy Ortman, interim executive director of the Concordia Learning Center, is interviewed by student Indigo Estevez from Newark for the school paper. There's a buzz in the newsroom of a New Jersey start-up newspaper, and not ...
Facing foreclosure? Fight for your home - News-DemocratOne in every 460 U.S. homes --or 272,000 properties -- were lost to foreclosure in July. That includes one in every 465 houses in St. Clair County and one in 692 in Madison County. The story of America's record foreclosure rate has been well ...
Social Security 2009 Cost Of Living Increase Will Help, But People ... - Insurance News NetBusiness Editors/Healthcare Editors BELLEVILLE, Ill.--(BUSINESS WIRE)--October 16, 2008--For the more than 8.5 million individuals relying on Social Security Disability Insurance (SSDI) or awaiting a decision on their application for benefits, the 5 ...
U.S. moves to prop up those at risk of foreclosure - Globe and MailReality Check from Golf green on Bloor St., Canada writes: I don't like this at all. Do you hear the can of worms opening up? "To qualify, borrowers would have to be at least three months behind on their home loans, and would need to have home loans ...
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.
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