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State: HRC’s ticket to debt forgiveness? - Politico.comIf Hillary Rodham Clinton becomes Barack Obama’s secretary of state, she could wipe away her lingering $7.6 million presidential campaign debt. As the nation’s top diplomat, she would be barred by tradition and ethics rules from partisan ...
Congress Blames Treasury as Foreclosures Mount - Common DreamsBOSTON - A congressional banking leader Tuesday blew hot air and blame at the U.S. treasury secretary about the ongoing home foreclosure crisis, but neither made a commitment to help stressed homeowners. Congress is officially out of session, except ...
Obama Needs a Protest Movement - Common DreamsThe astonishing election of 2008 is over. Whatever else the future holds, the unchallenged domination of American national government by big business and the political right has been broken. Even more amazing, Americans have elected an African ...
2008 (2665) - Dakota Voice► May 22 - May 29 (1) To assuage conservatives, McCain has rolled out endorsements from leading conservatives and aired a new television ad that mentions Ronald Reagan. He plans to attend a major gathering of conservatives later this month. The ...
CapeCodToday Blog Chowder - Cape Cod Today"If others were involved with the accused, let them charge them and join him in prison whatever the cost." It's very obvious others were involved. They found three sets of DNA under her fingernails, and DNA on her shoe that matched no one they tested ...
School for the blind starts visionary newsroom - Newark Star-LedgerEd Murray/The Star-Ledger Judy Ortman, interim executive director of the Concordia Learning Center, is interviewed by student Indigo Estevez from Newark for the school paper. There's a buzz in the newsroom of a New Jersey start-up newspaper, and not ...
OHSU halts plans to expand Portland wing due to economy - kgw.comPORTLAND, Ore. (AP) -- Oregon Health & Science University has decided to halt plans to expand its Kohler Pavilion wing because of the credit crisis. In an e-mail sent last week to OHSU employees, Chief Financial Officer Brad King said the hospital's ...
White House Takes On....Washington Times?!? - Mediabistro.comReceive mediabistro.com's Daily FishbowlDC Feed via email Click here to receive mediabistro.com's Daily Media Newsfeed via email. "I do think that the quality which makes a man want to write and be read is essentially a desire for self-exposure and ...
Pearson Lakes Art Center to dedicate new wing - Sioux City JournalOKOBOJI, Iowa -- The Pearson Lakes Art Center will dedicate its new $1 million visual arts wing and a gifted collection Saturday as part of the University of Okoboji’s Winter Games XXVIII. The ceremony will begin at 11 a.m. The new visual arts wing ...
Lots of homes 'underwater' on mortgages in U.S. - BusinessWeekFirst American CoreLogic, a data supplier, says that in the July-September period, 18% of all properties with a mortgage were underwater—that is, worth less than the outstanding debt. The company’s data includes over 80% of all mortgages. Here ...
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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