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News about Mortgages:
'Help' Can Be Costly - BusinessWeekBy Robert Berner The implosion of the subprime mortgage market has been a boon to loan-modification consultants who promise to help borrowers refinance and get back on the road to financial stability. Some advisers steer clients toward taxpayer ...
Offshore retreat a boon for Big Four - The AgeA RETREAT of foreign banks from the Australian corporate lending market is under way, which will leave the Big Four domestic institutions scrambling to pick up the slack in a mass refinancing of company debt due to happen over the next year. The ...
2008 (2665) - Dakota Voice► January 16 - January 23 (1) You don't see this kind of courage in a lot of adults, much less a 6-year old. From the Atlanta Journal-Constitution and ABC News comes word of a young boy who rescued his 5-year old friend from drowning. Josiah, who ...
Pharma, big biotech may avoid credit ills, report says - San Diego Union-TribuneNEW YORK – The credit crunch could prove to be a boon for large pharmaceutical and biotechnology companies based on their limited exposure to the debt markets, according to two reports from analysts. Drug makers have stayed out of the “cheap debt ...
More rate cuts to come - News.com.auRATES on fixed mortgages have plunged and the other big banks are set to follow the ANZ's variable rate cut, ahead of the Reserve Bank's meeting on Melbourne Cup Day. And in a boon to first home buyers, Aussie Home Loans yesterday announced they ...
CONSUMING FIRE - New York PostConsumer spending - the jet fuel that supplies 70 percent of the economic activity in this country - is in danger of being choked off, the result of mounting credit card debt and falling house prices. While the subprime mortgage meltdown and its ...
John McCain plan rewards greed, says Barack Obama - Times OnlineBarack Obama accused John McCain of being erratic and unsteady yesterday, intensifying an aggressive counter-attack against the assaults on his character and background that have been hurled at him in recent days by the Republican’s campaign ...
Buyers, owners see bailout's silver lining - Rocky Mountain NewsMark Bossard's timing to refinance his 2-year-old mortgage might be perfect, given the government's bailout of Fannie Mae and Freddie Mac. "It could be a boon for me," said Bossard, a software engineer. On Monday, a day after the government stepped ...
Mall owner could seek bankruptcy - GoDanRiver.comCity officials are keeping a close eye on General Growth Properties Inc.’s stock collapse because the Chicago-based company owns Piedmont Mall. General Growth, the second-largest U.S. shopping mall owner, had its worst trading day ever Tuesday ...
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