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News about Mortgages:
Mortgage application volume falls 6.2 pct - Lexington Herald-LeaderWASHINGTON -- Mortgage application volume fell 6.2 percent during the week ended Nov. 14, according to the Mortgage Bankers Association's weekly application survey. The trade group's application index slipped to 398.6 during the week, down from 425 a ...
BSkyB to raise $600 million in bond issue - Lexington Herald-LeaderLONDON -- Satellite broadcaster British Sky Broadcasting Group PLC said Tuesday it plans to raise $600 million in a bond issue to refinance existing debt and acquire new businesses. BSkyB, whose biggest shareholder is Rupert Murdoch's News Corp ...
Surviving - and thriving - Boston GlobeThere are two predictions that no businessperson in Boston is ready to make: how bad this recession is going to get, and how long it will last. "I'm afraid it's gonna be longer than six or 12 months," says Michael Bonney, chief executive of Cubist ...
'07 Horse of the Year Curlin to be retired - FOX NewsMajority owner Jess Jackson, who has an 80 percent stake in the horse, said in a statement issued Sunday that he'll consider offers from farms in Kentucky before deciding where Curlin will stand at stud. "He always gave it his all and has done ...
Maryann Haggerty and Elizabeth Razzi - Washington PostWelcome to Real Estate Live, an online discussion of the Washington area housing market with Post Real Estate editor Maryann Haggerty and columnist Elizabeth Razzi. Maryann has been with The Post for 18 years and has served as real estate editor for ...
Michelle Singletary - Washington PostPersonal finance columnist Michelle Singletary hosted an online discussion with Gary Weiss , author of "Wall Street Versus America: A Muckraking Look at the Thieves, Fakers, and Charlatans Who Are Ripping You Off," on Thursday, Oct. 23 at Noon ET ...
Forced out of home, family still asks why - DispatchThe lives of many Americans have been touched by the housing foreclosure crisis in some way. Home values have dropped, the stock market has stumbled and families have been forced out of their homes. The stories are repeated again and again - a family ...
US May Take Ownership Stake in Banks - Common DreamsWASHINGTON - Having tried without success to unlock frozen credit markets, the Treasury Department is considering taking ownership stakes in many United States banks to try to restore confidence in the financial system, according to government ...
These Loans Were Made for Walking: The End of the Subprime Crisis - Common DreamsWe are nearing the end of the subprime crisis, but this is not exactly grounds for celebration. There are still millions of low- and moderate-income homeowners who are facing the loss of their house through foreclosure. Nothing currently on the ...
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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