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News about Mortgages:
Mayfair Mall owner is deep in debt, may face bankruptcy - Milwaukee Journal SentinelNov. 11, 2008 | General Growth Properties Inc. shares plummeted Tuesday after the mall owner warned it faces solvency trouble and may be forced to file for bankruptcy if it can't refinance or extend nearly $1 billion in debt due next month. The ...
Business Digest - Providence JournalBoston-based Fidelity Investments, one of the biggest employers in Rhode Island with more than 2,400 workers in Smithfield, confirmed yesterday that it will eliminate about 1,700 jobs in the first three months of next year, adding to previously ...
Milwaukee reps get Joint Finance Committee posts - Milwaukee Journal SentinelNov. 13, 2008 5:37 p.m. | Madison - Two Milwaukee Democrats were named Thursday to the Legislature's powerful Joint Finance Committee - giving the state's largest city a consolation prize a day after Milwaukee was shut out of top leadership jobs in ...
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 ...
GMAC Considers Becoming a Bank Holding Company - FOX NewsWASHINGTON — GMAC Financial Services says it's holding discussions with federal regulators about becoming a bank holding company. The move could help it access government funding. GMAC said in a statement Thursday it plans to refinance its debt and ...
Water Tower Place - Chicago TribuneAmerican Girl Place has been part of Chicago's retail landscape for 10 years. So what explains its enduring appeal, even in these iffy economic times? It's the experience, silly! (Addy, Kit and the rest of the Girls would never call anyone stupid ...
John McCain and Barack Obama on the Economy - US News and World ReportWhen did it all go so wrong, America? How about August of 2007? Back then, the economy was in the midst of its 24th straight quarter of economic growth, the unemployment rate was 4.7 percent, and oil was $70 a barrel. But it was during that month ...
Cindy McCain's Keating Profits - OpEdNews.comThis past weekend I attended a seminar about modern economic theories. One of my fellow attendees was Professor William Black of the University of Missouri at Kansas City (UMKC). Bill Black teaches both law and economics, and he is an expert on the ...
Election 2008: Hillary Clinton in the news - NewsdayAbout 1,000 union and political activists whooped and shouted their way through a late afternoon rally Wednesday in Eisenhower Park, less than two miles from the site of the presidential debate. Whether you're a follower or an iconoclast, there's a ...
Local News In Brief - North Platte TelegraphKendra E. Hock, 23, Gurley, Neb., died in a one-vehicle rollover accident Monday, according to the Frontier County Sheriff's Office. The accident occurred shortly after 6 p.m. Monday, three miles west and one-half mile south of Eustis. Hock was the ...
Today's Mortgage Terms starting with F
Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.
Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.
First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.
Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.
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