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Auto Sales Struggle As Big 3 Seek Deal - WSOC-TVThe Big Three automakers aren't the only businesses being hit hard by the turmoil in the auto industry. As General Motors Corp., Chrysler LLC and Ford Motor Co. face a Tuesday deadline to make their case to Congress for $25 billion in loans, car lots ...
ANALYSIS: Bad news is trickling in from across the nation: The ... - Columbia MissourianWASHINGTON — The full scope of the housing meltdown isn’t clear and already there are ominous signs of a new crisis — one that could turn out the lights on malls, hotels and storefronts nationwide. Even as the holiday shopping season begins in ...
Columbia Association board members split on downtown development plan - Howard County TimesHoward County Council members are not the only ones who will have to approve General Growth Properties’ plan to redevelop downtown Columbia in the coming months. Because it owns several parcels of land in downtown, including Symphony Woods, the ...
Treasury Ponders Rate Relief for Home Buyers - Smart MoneyWASHINGTON (Dow Jones) -- The Treasury Department is considering a plan to revitalize the U.S. home market that would push down interest rates for loans to purchase a home, according to people familiar with the matter. The plan, which is in the ...
General Growth gets loan break - Baltimore SunShopping mall owner General Growth Properties Inc. is getting a two-week extension on $900 million in debt that had been scheduled to come due last week as the company works to stave off bankruptcy and negotiate longer-term extensions with lenders ...
Register for FREE - Wall Street JournalPlease register to gain free access to WSJ tools. An account already exists for the email address entered. Now that Hank Paulson has transformed the U.S. Treasury into Goldman Sachs South–buying, selling, lending to and merging companies–it ...
Obama: So far so good - Napa Valley RegisterWith the appointment of Christine Romer to head up his council of Economic Advisors, the key person to advise the President on economic policy, Obama has put in place an economic team that consists of centrists if not right of center policy makers ...
Home Value Highwire - WTOP RadioWASHINGTON - If you want to buy in today's housing market, you may not be able to seal the deal or get a loan, unless you have cash and good credit. You need cash to close the deal. The days of zero-down are gone. That's the new reality of the ...
House Race Update: Ohio Sup. Ct. to Rule on Franklin County Votes - ABC News BlogsABC News' Teddy Davis and Arnab Datta Report: A federal appeals court ruled Tuesday that the Ohio Supreme Court -- and not a federal district court -- is the proper forum to decide how approximately 1,000 challenged provisional votes should be ...
General Growth shares dive - Baltimore SunGeneral Growth Properties Inc. shares plummeted yesterday after the nation's second-largest mall owner warned it faces solvency trouble and may be forced to file for bankruptcy if it can't refinance or extend nearly $1 billion in debt due next month ...
Today's Mortgage Terms starting with P
Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
Principal: It is the amount of money borrowed or owed, excluding interest.
View all Terms