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UPDATE 1-Akzo unit plans 5-yr 1 bln euro bond -IFR - ForbesLONDON, Dec 4 (Reuters) - Dutch chemical group Akzo Nobel NV is preparing to issue a five-year 1 billion euro ($1.3 billion) bond as it looks to refinance several bonds that mature in the next six months, IFR reported on Thursday. Guidance for the ...
Mortgage rates to the rescue? - Boston GlobeMortgage rates are dropping like a rock. Now the question is whether the allure of dirt-cheap mortgages will be enough to restart the stalled housing market. Clearly one side benefit to the global financial crisis and economic downturn has been ...
Overview: Rate cuts fail to lift grim mood - Financial TimesA series of aggressive interest rate cuts by European central banks failed to lift the mood in financial markets on Thursday as investors continued to fret about the global economic and corporate outlook. Government bond yields on both sides of the ...
Florida Moves to Provide Relief on Foreclosures - TimeHis main purpose is to make sure Floridians can remain in their houses," the governor's spokesman, Sterling Ivey, told=2 0TIME. "He's talking about Floridians who are working and trying to make ends meet every day. Not those who bought five homes ...
Redstone Sells Midway Stake to Investor for $100,000 (Update3) - BloombergDec. 1 (Bloomberg) -- Sumner Redstone , the owner of CBS Corp. and Viacom Inc. , sold his 87 percent stake in video-game maker Midway Games Inc. for $100,000 to help restructure debts that threaten his family business. The sale to private investor ...
The Henry Paulson eclipse could be the global turning point - Times OnlineYou may not have noticed it if you get most of your economic information from media headlines, but there were some pretty important events in the world economy last week - certainly more important than the Pre-Budget Report and fatuous arguments ...
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 ...
Sterling Street sewer upgrade may cost more - Mid-Hudson News NetworkMIDDLETOWN – It looks like it will cost the City of Middletown more to borrow money to repair its massive Sterling Street sewer problems. The project is expected to cost about $2.5 million and the city is under state order to do the work. It had ...
SUMNER SQUEEZE - New York PostNational Amusements, the movie-theater chain that controls Sumner Redstone's interests in Viacom and CBS, faces the difficult task of getting more than 50 institutions to unanimously agree on revised terms to refinance $800 million of the company's ...
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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