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News about Mortgages:
PPL could refinance $150M in bond debt - Daily ItemWASHINGTONVILLE -- Air pollution control equipment at the Montour Generating Station is among projects that would be refinanced by a $150 million bond issue. PPL is seeking approval for refinancing of the bonds at a lesser interest rate. The interest ...
Kessler Hospital CEO outlines plan to save it - Atlantic City PressHAMMONTON - If William B. Kessler Memorial Hospital gets the funds it needs to continue operating into 2009, all actions of the board of directors and managers will be out in the open, and managers will be held accountable to the community, officials ...
Overview: Rate cuts fail to lift grim mood - Financial TimesA series of aggressive interest rate cuts by European central banks failed to lift the mood in financial markets on Thursday as investors continued to fret about the global economic and corporate outlook. Government bond yields on both sides of the ...
Marriott Executive to Stake Out His Own Place in Hotel World - Washington PostAfter 16 years at Marriott International , Norman Jenkins is walking away from what appears to be a secure corporate job and stepping out on his own at a time of high economic turbulence. "I'm a contrarian, and I think it's a good time," says Jenkins ...
Walsh needs to return to earth and safely land BA deal with Iberia - Daily TelegraphThe Aviation Club of the UK felt a bit less clubby than normal yesterday lunchtime. The comments made at the Pall Mall venue by Fernando Conte, chairman of Iberia, should have made Willie Walsh feel distinctly uncomfortable. Until Tuesday, Conte ...
Foreign ownership limits in Qantas Act brings BA down - The AustralianFOR Qantas a merger with British Airways provides the opportunity to become a mega airline or else face the prospect of being forced over time to contract to a niche regional player. Consolidation of major carriers is already under way in response to ...
Kiev crunch - Financial TimesIt has been a rough ride for Viktor Yushchenko, Ukraine’s pro-west president, since his triumph in the 2004 Orange Revolution – and it is about to get much rougher. The domestic political conflicts and persistent headaches of dealing with ...
Unhand that economy, villein! - Meganmcardle.theatlantic.comI've been thinking about this for awhile. How much of this current crisis is just a manifestation of the American--indeed human--will? We're always talking about politicians deluding us and Wall-Street manipulating us, and predatory lenders conning ...
The Credit Crunch Squeezes Municipal Bonds - US News and World ReportMunicipal bonds help cities, hospitals, museums, and universities raise cash to build bridges, new dormitories, and wards. They are generally considered some of the safest investments available. But the subprime sludge that has muddied so much of the ...
Home owners hit by mortgage rate rises - Daily TelegraphHSBC, Woolwich - which is part of Barclays - and Yorkshire Building Society announced rises of up to 0.5 percentage points on some of their most competitive mortgages. Experts expect a "torrent" of lenders would follow suit because banks are nervous ...
Today's Mortgage Terms starting with P
Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
Principal: It is the amount of money borrowed or owed, excluding interest.
View all Terms