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News about Mortgages:
Refinancing a viable option for certain homeowners - McAllen MonitorMcALLEN - It sounds silly to borrow more money to save money, but after interest rates plummeted last week, it's an attractive option. Refinancing is not as simple as just taking out another loan, but for homeowners it's a good bet - if they can ...
Bad economy offers cheap stocks, cars - Brownsville HeraldMcALLEN - The daily deluge of glum news is a constant reminder of how things are looking worse than bad, but that also means prices are falling and it could be a buyer's market for some big-ticket items. And it goes beyond gas prices dropping below ...
Ailing economy opens doors for stock market novices, car buyers - McAllen MonitorThe daily deluge of glum news is a constant reminder of how things are looking worse than bad, but the sluggish economy also offers savings opportunities for saavy consumers. And it goes beyond gas prices dropping below $2 a gallon for the first time ...

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Today's Mortgage Terms starting with J
Jumbo Loan: A mortgage over the $300,700 limit established by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. A jumbo mortgage tend to carry a higher interest rate than a conventional mortgage.
Junior Mortgage: A mortgage subordinate to the claim of a prior lien or mortgage. In the case of a foreclosure, a senior mortgage or lien will be paid down first.
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