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Home Front: Foreclosed Sacramento property to sprout new houses - Sacramento Bee
At last, Home Front has found a more pleasant way to tell a foreclosure story. When Golden 1 Credit Union recently foreclosed on a 1-acre property near Rio Linda, it didn't just put it back on the market at a big loss. California's biggest credit ...

Fed Aid Sets Off a Rush to Refinance - Wall Street Journal
The Federal Reserve's attempt to stabilize the housing market set off a chain reaction across the U.S. on Tuesday, dropping interest rates and quickly spurring a burst of refinancing activity by borrowers eager to lower their mortgage costs. Some ...

Mortgage rates drop - Sun-Journal
WASHINGTON (AP) -Rates on 30-year mortgages plunged this week to the lowest level since January after the government launched a sweeping new effort to aid the U.S. housing market. Mortgage finance giant Freddie Mac reported Thursday that average ...

Feds slash mortgage rates - Biloxi Sun Herald
WASHINGTON -- Rates on 30-year mortgages plunged this week to the lowest level since January after the government launched a sweeping new effort to aid the U.S. housing market. Mortgage-finance giant Freddie Mac reported Thursday average rates on 30 ...

Refinance now, or possibly never - International Herald Tribune
LONDON : European companies with debt maturing soon should refinance now despite punitive rates because there is worse on the way, according to analysts. Issuers could be squeezed out in the years ahead as a result of competition from hundreds of ...

4.5 percent mortgage: Will it work? - Philadelphia Inquirer
Realtors, builders, and even the federal government have tried everything from giveaways to incentives to tax credits to get home sales back on track - all with scant results. The newest suggestion - 4.5 percent fixed-interest rates for home loans ...

How fat cats got that way ... - Dallas Morning Views Blog
Re: "Fat cats not the issue -- Do executives really make too much, or are we just looking for an enemy? asks Thomas Sowell," Saturday Viewpoints. Mr. Sowell's defense of the exorbitant salaries of business executives glosses over several points. It's ...

Mortgage rates drop to lowest level since January - Fort Worth Star-Telegram
Saginaw 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 ...

US housing market slump to last despite rise in opportunists - Gulf News
New York: The lowest mortgage rates in three years are luring first-time buyers and cost-cutting refinancers, but falling home prices and mounting unemployment will keep US housing in its deepest slump since the Great Depression. Applications to buy ...

Bad for the store, bad for the mall - Marketplace.publicradio.org
Scott Jagow: Over the weekend, shopping mall owner General Growth Properties avoided bankruptcy -- barely. It got a two-week extension on -- you guessed it -- mortgage loans. More from Nancy Marshall Genzer. Nancy Marshall Genzer: General Growth ...

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Today's Mortgage Terms starting with D

  • Default: Failure to fulfill legal obligations of a contract, including failure to make payments on a loan.
  • Discounted Loan: When the note rate on a loan is lower than the market rate, it is a discounted loan.
  • Discount Point: A point paid to the lender to permanently lower or acquire down an interest rate. Money must be paid up front to lower the rate.
  • Down Payment: The amount of cash you must pay down initially for the purchase of your home. For conventional loans, you should aim for a down payment that's at least 20% of your home's value. The reason is lenders generally do not require private mortgage insurance with a down payment of at least 20% of your home's purchase price.

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