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U.S. housing woes batter HSBC's net - Chicago TribuneThe North American operations of HSBC Holdings PLC , which include Mettawa-based HSBC Finance Corp. , took it on the chin in the first half of the year. Hurt by the continuing deterioration of the U.S. real estate market, it was the only geographic ...
Gotti Arrested In Murder Conspiracy - Free Internet PressJohn A. Gotti has been charged with conspiracy for his role in a sprawling cocaine trafficking operation and in three mob-related killings in 1980s and ’90s, the United States attorney’s office in Tampa, Florida, announced on Tuesday. Gotti, 44 ...
Radio Address by President Bush to the Nation - ChristianNewsWireTHE PRESIDENT: Good morning. It's not every day that Americans look forward to hearing from the Internal Revenue Service, but over the past few weeks many Americans have received a letter from the IRS with some good news. The letters explain that ...

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Today's Mortgage Terms starting with P
Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
Principal: It is the amount of money borrowed or owed, excluding interest.
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