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News about Mortgages:
Buy Real Estate Now - Forbes11.27.08 - First, the bad news. New home sales in the U.S. haven't been this low since 1991, according to the Commerce Department. Now the good news. New home sales in the U.S. haven't been this low since 1991. This means prices are back to where ...
Rep. Spencer Bachus opposes government aid to auto industry - Everything Alabama BlogWASHINGTON _ U.S. Rep. Spencer Bachus, R-Vestavia Hills, announced this morning that he will oppose any government aid to the domestic auto industry, saying it would be unfair to other struggling companies and industries. "My constituents do not ...
His Space - WiredPerched on the edge of a bright white power sofa on the supernaturally quiet eighth floor of the News Corporation’s global headquarters, the last thing Rupert Murdoch looks like is a fire-eyed revolutionary. Starched cuffs. Courtly manner. A month ...
LATEST FROM OUR BLOGS - CNBCAs recently as last summer, rates on 30-year fixed loans were about 6.5 percent, and once the Fed actually settles out at the end of the week, we’ll probably only be in the low fives, which will be a two to three year low," according to Spencer ...
Treasury attacked over $700bn bail-out - Financial TimesA senior US Treasury official came under attack on Friday as critics of the $700bn bail-out from the left and the right questioned whether the Bush administration had deceived members of Congress over how the funds would be used. Congressional ...
Auto loan arms seek bank status - Detroit NewsWASHINGTON -- Ford Motor Credit Co. and Chrysler Financial are lobbying Congress and federal banking regulators to become industrial loan corporations, which would allow them to accept deposits. That represents a cheaper source of capital than other ...
Last Rosebys stores close down - Guardian UnlimitedThe last Rosebys stores have been closed by administrators. The doors closed at the Yorkshire-based home textile retailer's remaining 59 stores for the last time on Wednesday afternoon. Closing down sales started around a month ago. Like failed ...
Bookmakers put on spurt as Greeks make challenge - Times OnlineLadbrokes and William Hill, Britain’s biggest bookies, both jumped against a falling market on talk that Opap, the partly state-owned Greek gaming company, was about to move in on their turf with a bid. Opap, the largest gaming company in Europe ...
UK plc battens down the refinancing hatches - Financial TimesA siege mentality is taking hold of swaths of British companies, as chief executives drop spending and expansion plans in the face of deepening reluctance by banks to lend them money. Since the banking crisis peaked in late September, some parts of ...
Company liquidations rise by a quarter, and more individuals declared ... - Guardian UnlimitedThe number of companies going bust is expected to soar in the coming months after official figures showed corporate insolvencies had increased dramatically to their highest point for five years. Company liquidations jumped by a quarter in the past ...
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.
View all Terms