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Troubles mount at Albany cemetery - Corvallis Gazette-TimesTwin Oaks Memorial Gardens and Mausoleum has taken a long time, up to two years in one case, to get grave markers in place, but its problems go far deeper than that. The facility has been foreclosed on by a Portland lender. In addition, the present ...
Mortgage bankers see slump into 2009 - Albany Business JournalThe Mortgage Bankers Association expects the economy to contract through the first half of 2009 before a modest recovery takes hold heading into 2010. The Washington, D.C.-based group said in its latest economic forecast this week that it expects ...
Viewer Stories: Retirement Prospects Dim - WSB-TV AtlantaBill from Albany, N.Y. I left active duty as a Navy Lieutenant in 1983, got an MBA from UCLA in two years and then worked on Wall Street for 20 years, while actively participating in the Navy Reserves until retirement in 2007. During my peak earning ...
Mortgage broker files bankruptcy petition - Daily GazetteSCHENECTADY — A subprime mortgage brokerage that relocated to the city during the height of the housing boom has closed and filed for bankruptcy. Two years after MEM Financial Services established a headquarters near the corner of State and Ferry ...
Election 2008: Hillary Clinton in the news - NewsdayAbout 1,000 union and political activists whooped and shouted their way through a late afternoon rally Wednesday in Eisenhower Park, less than two miles from the site of the presidential debate. Whether you're a follower or an iconoclast, there's a ...
Why Does College Cost So Much, and Is It Worth It? - FOX News"Thank you for airing a program about real issues, real people, and real problems. Americans want to hear how to solve our everyday problems, not about other countries problems. We all struggle to pay bills and want to know how to afford to send our ...
Election 2008: Barack Obama in the news - NewsdayGeorgia residents packed polling places as early voting began in earnest this week, waiting as long as eight hours in line to cast ballots and forcing some voting sites to stay open deep into the night. Polls have been open in Georgia since Sept. 22 ...
The housing market - Times Union BlogsWASHINGTON — The nation is on track to build fewer homes this year than at any time since the end of World War II, adding to the woes of an economy that analysts said Friday has almost certainly entered a recession. Read the story. RECESSION ...
Viewer Stories: Housing Market Victims - WSB-TV AtlantaI lost my house a few months ago because I did not have the money for the elevating arms that came when the mortgage went from $1,222.00 to $2,000.00 in three years. I feel that the mortgage was a joke when no one would talk to me at the table before ...
Weber's, the landmark German restaurant in Syracuse, re-opening Friday - Syracuse Post-StandardThe Weber family is re-opening its landmark German restaurant on Syracuse's North Side on Friday, three days after it was seized by the state for unpaid sales taxes. Heather Bragman / The Post-Standard Weber's, the landmark German restaurant 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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