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Credit card companies quick to raise rates, fees - Atlanta Journal ConstitutionGreg Fischer was already fed up with Bank of America for doubling his credit card’s interest rate to 28.99 percent — the price for being a couple of weeks late with a payment in April. What sent him over the top, he said, was the bank’s ...
Woodstock refuses bond to refinance labor office - Atlanta Journal ConstitutionThe Woodstock City Council has balked at issuing bonds for a Department of Labor office in Kennesaw that serves Cherokee and north Cobb counties. “This was really a refinancing for a group that recently purchased the building,” City Manager Jeff ...
Washington bankruptcy filings rise 40% - Seattle TimesIndividuals and businesses who can't pay their bills anymore and can't sell off assets to pay their debts typically seek protection from creditors in bankruptcy court. The court can give them a fresh start by releasing them from personal liability ...
Obama’s first crisis: the economy - Atlanta Journal ConstitutionWASHINGTON — President-elect Barack Obama’s pre-inaugural “honeymoon” could turn into a major headache. Unlike those preceding him in office, Obama is being forced into swift action on the economy with a financial crisis and the specter of ...
Voters say yes in Mayo, Boiling Springs fire districts; Holly Springs ... - Spartanburg Herald-JournalResidents in Spartanburg County faced several referendums, chose several commissioners, and one town elected a councilman. Boiling Springs Fire District voters on Tuesday approved a referendum allowing the district to issue $2 million in bonds to ...
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 ...
Eleven Other Countries with Big Auto Industry Problems - Huffingtonpost.comGeneral Motors has been making informal approaches to the Polish government for financial help. Officials in Poland also are bracing for huge job losses, maybe as many as 10,000 in their auto sector. Suppliers in Poland are likely to be hit hard ...
Keep bailing . . . - Meganmcardle.theatlantic.comFelix Salmon complains , justly I think, that the bailed out financial firms are using the funds to keep their operations going rather than restructure them: The NYT also, however, has a pointed column from Floyd Norris , who notes the double ...
BLOG: Up to 100,000 at Obama rally Sunday - Rocky Mountain NewsDemocratic presidential candidate, Sen. Barack Obama, D-Ill., arrives at a rally in Fort Collins, Colo., Sunday, Oct. 26, 2008. Video: With nine days to go before Election Day, Sen. Barack Obama's rally in downtown Denver's Civic Center Park draws an ...
Today's Mortgage Terms starting with D
Default: Failure to fulfill legal obligations of a contract, including failure to make payments on a loan.
Discounted Loan: When the note rate on a loan is lower than the market rate, it is a discounted loan.
Discount Point: A point paid to the lender to permanently lower or acquire down an interest rate. Money must be paid up front to lower the rate.
Down Payment: The amount of cash you must pay down initially for the purchase of your home. For conventional loans, you should aim for a down payment that's at least 20% of your home's value. The reason is lenders generally do not require private mortgage insurance with a down payment of at least 20% of your home's purchase price.
View all Terms