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Racetrack firm redeals its debt - Lexington Herald-LeaderMagna Entertainment Corp., the company that owns the host track for next weekend's Breeders' Cup championship races, announced late Wednesday that it again has renegotiated about $250 million in loans. But the company said it will not be able to sell ...
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Today's Mortgage Terms starting with E
Equity: The difference between the current market value of a property and the total debt outstanding against the property.
Escrow: A transaction in which a third party represents both the buyer and seller, or for borrower and lender, involving the handling of legal documents and disbursement of funds. In some parts of the US, escrow of taxes and insurance premiums are referred to as impound or reserves.
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