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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 ...
Public loan programs take center stage at forum - Charleston Post & CourierThe once-torrid affair between homebuyers and purely private financing sources is over. The financial markets have lost that loving feeling with mortgage-backed securities, forcing a tightening of lending standards. So last week, local real estate ...
6th District hopefuls spar - Charleston Post & CourierSixth Congressional District challenger Nancy Harrelson had said she wouldn't debate incumbent Democratic Rep. Jim Clyburn on statewide TV but changed her mind Monday, just in time for them to have a lively hour-long exchange. Clyburn (left ...
INDUSTRY NEWS & PEOPLE March 2007 - Business Travel ExecutiveThe NBTA Foundation has announced the retirement of four members from its Board of Trustees and the appointment of their successors. The four outgoing Board members are Fay Beauchine, Carlson Companies; Mathias Friess, Virgin Blue; Susan Jacobs, Visa ...
'Muzzled' Biden's Halloween Present: A Press Avail - ABC News BlogsABC News' Matthew Jaffe reports: Earlier this week, Republicans claimed that Sen. Joe Biden, D-Del., had been “muzzled” by the Democratic campaign, noting that he had not held a full-fledged press availability with traveling reporters since a ...
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