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Birmingham Mayor Larry Langford Faces Bribery Charges (Update2) - BloombergDec. 1 (Bloomberg) -- Birmingham, Alabama’s mayor was charged with bribery and money laundering in connection with municipal bond and derivative deals while he was president of the Jefferson County Commission, according to an indictment unsealed ...
Shaq's return lifts balanced Suns over Wolves - FOX NewsMINNEAPOLIS — The Phoenix Suns found the answer for their peculiar struggles in Minnesota: Shaq. Shaquille O'Neal had 18 points, 10 rebounds and three blocks to help the balanced Phoenix Suns to a 110-102 victory over the Timberwolves on Wednesday ...
Horford, Hawks hold off Bucks, 102-96 - FOX NewsATLANTA — Al Horford scored 21 points and converted a key three-point play to protect a late lead, leading the Atlanta Hawks to a 102-96 victory over the Milwaukee Bucks on Wednesday night. Atlanta led by only two points when Horford's three-point ...
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 ...
Banks remain wary; some states blackballed - Traverse City Record-EagleWASHINGTON (AP) -- Just when consumers and the U.S. economy need banks to lend more freely, the mortgage industry is making it harder to borrow -- even for those with good credit. Mortgage insurers, whose backing is required for borrowers who can't ...
Begging for Bailout Cash, U.S Cities Told to Go Fish: Joe Mysak - BloombergNov. 18 (Bloomberg) -- You can't blame U.S. cities for eyeing the federal government's open vault and asking for a bailout, too. Atlanta, Detroit, Philadelphia and Phoenix have all asked in recent days for some of the Troubled Asset Relief Program ...
Owner's financial trouble won't affect Columbia Mall, Capital Mall - Columbia MissourianCOLUMBIA — The Columbia Mall and the Capital Mall in Jefferson City will remain unscathed by the financial trouble of the malls' Chicago-based parent company, a company spokesman said. The malls' owner, General Growth Properties, said this week it ...
2008 Election - OregonianDiane McKeel will take a seat on the Multnomah County Board of Commissioners in January, after a narrow come-from-behind victory. McKeel, the executive director of the West Columbia Gorge Chamber of Commerce, said she will spend the next two months ...
Birmingham's mayor opens effort to stock city food banks - Everything Alabama BlogBirmingham Mayor Larry Langford today announced a new campaign to stock city food banks. The mayor has asked city's 4,000 employees to donate $10 to area food banks. The mayor's logo for the food bank effort Langford this afternoon met with all 26 ...
Bad bond deal at City Hall expected to cost New Orleans taxpayers $400 ... - New Orleans Times-PicayuneAs disastrous moves go, it would be tough to top the city of New Orleans' decision eight years ago to sell $171 million in bonds and invest the proceeds in the stock market as a way of shoring up an underfunded pension plan for firefighters. As if on ...
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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