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In Rough Economic Times, an Unlikely Hero: the Taxman - FOX NewsWASHINGTON -- As the nation sinks deeper into recession, the IRS is offering to waive late penalties, negotiate new payment plans and postpone asset seizures for delinquent taxpayers who are financially strapped, but make a good-faith effort to ...
GE Capital to Raise $10 Billion in Sale of FDIC Notes (Update2) - BloombergJan. 5 (Bloomberg) -- GE Capital Corp. , the lending arm of General Electric Co., plans to raise $10 billion in the biggest offering of debt backed by the Federal Deposit Insurance Corp. The sale includes $2 billion of two-year notes, $5.5 billion of ...
GE Capital Raises $10 Billion in Biggest Sale of FDIC Notes - BloombergJan. 6 (Bloomberg) -- GE Capital Corp. , the lending arm of General Electric Co., raised $10 billion in the biggest offering of debt backed by the Federal Deposit Insurance Corp. The sale included $2 billion of two-year fixed-rate notes and $4.5 ...
Waverly mortgage company goes from lender to mender - Waterloo Cedar-Falls CourierWAVERLY --- When Randy and Julie Lee launched their Open Mortgage franchise, their idea was to fit would-be homeowners with the right deal to get them a house. Now, with an ailing economy in which a flurry of foreclosures is a chief symptom, the Lees ...
Paranoia next on Sir Alex Ferguson's fixture list - Times OnlineThe so-called hairdryer has nothing to do with Sir Alex Ferguson's tendency to bawl out his players from close range and everything to do with the fact that the vast majority of what he spouts is hot air. What else could anyone conclude after his ...
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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