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General Growth Properties gets loan extension - Triangle Business JournalGeneral Growth Properties Inc. , which owns The Streets at Southpoint mall in Durham, has received a two-week extension on $900 million in mortgage loans that came due on Nov. 29. The company says it is seeking a longer extension. In mid November ...
Four Seasons' parent company gets two-week reprieve - Greensboro News & RecordCHICAGO (AP) — General Growth Properties Inc. has received a two-week extension on mortgage loans totaling $900 million, as the troubled shopping mall owner works to stave off bankruptcy and negotiate longer-term extensions with lenders. The ...
Mortgage brokers seeing more refinancing - WRALRaleigh, N.C. — New numbers out Wednesday show national sales of new homes are at their lowest point in 18 years. But when it comes to pre-owned, the days of bargain hunting here may be over. The Federal Home Finance Agency reports prices are still ...
UNC Murder - FOX NewsMarch 13: Lawrence Alvin Lovett Jr., 17, is escorted by Durham police officers out of the Durham Police Department in Durham, N.C. March 13: Lawrence Alvin Lovett Jr., 17, is escorted by Durham police officers out of the Durham Police Department in ...
Four Seasons owner could face bankruptcy - Greensboro Business JournalGeneral Growth Properties Inc. , the owner of Four Seasons Town Centre in Greensboro, announced in a filing Tuesday that it faces potential bankruptcy if it’s unable to refinance its debt. The Chicago-based company, which also owns The Streets at ...
Credit crisis hobbles Wake, Durham counties - Raleigh News & ObserverThe credit shortage also is affecting the state's borrowing. The variable interest rates on about $855 million in state debt rose this week, said Sara Lang, spokeswoman for the State Treasurer's Office. Those rates are now almost fivefold what they ...
General Growth Properties may file for bankruptcy - Triangle Business JournalGeneral Growth Properties, the owner of The Streets at Southpoint mall in Durham, says it may be forced to seek bankruptcy protection from its creditors as it struggles to refinance debt. The company’s stock tumbled by nearly two-thirds in Tuesday ...
David Cutcliffe insists he's 'staying at Duke' - FOX NewsDURHAM, N.C. — Duke coach David Cutcliffe quashed any speculation about him returning to Tennessee to replace his good friend and former boss, Phillip Fulmer. "I'm at Duke, staying at Duke," Cutcliffe said Tuesday. Cutcliffe twice served on ...
Southpoint parent company in financial trouble - WRALDurham, N.C. — General Growth Properties Inc., the parent company of Durham's The Streets at Southpoint and almost 200 shopping centers nationwide, faces a debt deadline that could force the company to seek bankruptcy protection, according to a ...
General Growth Properties retains Sidley Austin LLP in ‘advisory ... - Triangle Business JournalThe owner of The Streets at Southpoint mall in Durham has hired one of the country’s largest law firms as it considers filing for bankruptcy protection. Chicago’s General Growth Properties Inc. (NYSE: GGP) said in a statement that it has hired ...
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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