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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 ...

Register for FREE - Wall Street Journal
Please register to gain free access to WSJ tools. An account already exists for the email address entered. Ms. Jordan is a former operations vice president at Bank of America, her job was eliminated in 2008. Prior to Bank of America, Jordan spent ...

Business past, business present? - Monroe Evening News
- Evening News photo by KIM BRENT Headlines of today's state of affairs are reminiscent of those some 70 years ago. One area business, Martin's Shoe House in Monroe, has weathered the times and seen its share of history. Greg Martin (left) and his ...

Mortgage rates fall, but many borrowers will have trouble qualifying - Los Angeles Times
The biggest savings for shoppers this holiday season may be in home mortgages, thanks to a decline in interest rates spurred at least in part by the latest federal financial rescue effort. But it's an open question whether consumers will actually ...

'Help' Can Be Costly - BusinessWeek
By 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 ...

Hope for Homeowners program appears dashed - Baltimore Sun
The government's Hope for Homeowners plan launched Oct. 1 was initially projected to help as many as 400,000 struggling borrowers avert foreclosure over the next three years. But fewer than 100 homeowners applied to the program in October, and the ...

Government's mortgage relief program gets few takers - Los Angeles Times
The federal government's Hope for Homeowners program launched Oct. 1 was initially projected to help as many as 400,000 struggling borrowers avert foreclosure over the next three years. But fewer than 100 homeowners applied for the program in October ...

Washington Mutual Skids on Outlook, Cuomo ProbeĀ  - CNBC
We asked Gary Vaynerchuk of Wine Library TV to tell us about his favorite brands of Bourbon, Irish Whiskey and Single Malt. Washington Mutual , the largest U.S. savings and loan, said loan losses will mount as the housing slump persists through 2008 ...

Housing program appears dashed - Nashua Telegraph
The government's Hope for Homeowners plan launched Oct. 1 was initially projected to help over the next three years as many as 400,000 struggling borrowers avert foreclosure. But fewer than 100 homeowners applied to the program in October, and the ...

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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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