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Mortgage application, refinance volume surge - Newsweek
Recommended (6) Forbes: What Will the Federal Bailout Plan Cost? Why You Should Care About Fannie and Freddie The Economy: Why It’s Worse Than You Think 'Hope Now' Offers Little of Either Subprimes: From Bad to Worse As Foreclosures Surge, Mortgage ...

Bernanke: more action needed to cut foreclosures - Forbes
Federal Reserve Chairman Ben Bernanke called on the government Thursday to ramp up efforts to stem soaring home foreclosures, which are feeding into the country's deep economic troubles. Although a flurry of actions have been taken to ease the ...

Kashkari: Treasury considering mortgage rate plan - Forbes
The head of the government's financial system rescue effort said Thursday the Treasury Department is considering a program to encourage banks to make mortgage loans at low rates to help revive the battered housing market. Under the proposal being ...

Did PartyGaming Head Own Plane Used in Suitcase Scandal? - Gambling 911
The "Suitcase Scandal" or maletinazo (derived from the word maletín, which in Spanish means "suitecase") began when Guido Alejandro Antonini Wilson, a Venezuelan-US entrepreneur, arrived in Argentina on a private flight hired by Argentine and ...

Latest Pictures - Newstrack India
Washington, Nov 30 (ANI): If scientists have their way, it may soon be possible to create a "hospital on a chip " for instant treatment to wounded soldiers even... of California, San Diego are working on developing a 'field hospital on chip Mumbai ...

Russian retailer Liniya taps state credit fund - Forbes
MOSCOW, Nov 21 (Reuters) - Russian state-controlled bank VTB on Friday gave access to credit to hypermarket chain Liniya, the latest in a series of moves aimed at supporting the retail sector during the global financial crisis. Russian retailers ...

Mixed Curse For Rio - Forbes
BHP Billiton 's decision to drop its bid for Rio Tinto may seem out of nowhere, but the market reaction to the announcement -- Rio shares lost more than a third of their value -- is overstated. If only the company would make its own case. Analysts ...

Oligarch’s alumina refinery at risk - Times Online
The future of Aughinish Alumina, the Limerick alumina refinery, may rest on the outcome of a High Court action in London being taken against the company’s owner, Oleg Deripaska, a Russian tycoon. Deripaska, whose relationship with Peter Mandelson ...

Freddie Asks Treasury for $13.8 Billion After Loss (Update5) - Bloomberg
Nov. 14 (Bloomberg) -- Freddie Mac , seized by the government two months ago, asked the Treasury for $13.8 billion after a record quarterly loss caused its net worth to fall below zero. The mortgage-finance company, which had a net worth of negative ...

Bhattacharya Sees Buffett Example in Hindalco Rebound (Update2) - Bloomberg
Nov. 19 (Bloomberg) -- Hindalco Industries Ltd. Managing Director Debu Bhattacharya said investors should follow Warren Buffett , named America's richest man by Forbes magazine , rather than rebuff stocks, after India's largest aluminum producer lost ...

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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
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