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Granholm to release $150 million for banks to loan out - Detroit Free PressShe also said she'll ask lawmakers to allow a 90-day freeze on home foreclosures to give homeowners time to refinance their loans with lenders. Granholm also warned, just five weeks into the budget year that began Oct. 1, of more state budget cuts by ...
Trinity Health bond deal to help expansion - Detroit Free PressTrinity Health completed a $492 million municipal bond deal late Tuesday that allows it to refinance costlier debt and expand hospital projects at its Michigan and Idaho hospitals. The Novi-based health system is watching the market in hopes of ...
Advice and dissent: Obama reaches out to ex-rivals - SalonNov 15th, 2008 | WASHINGTON -- Presidents typically say they want to be surrounded by strong-willed people who have the courage to disagree with them. President-elect Barack Obama, reaching out to Hillary Rodham Clinton and Republicans, actually ...
U.S. Stocks Post Biggest Post-Election Drop on Economic Concern - BloombergNov. 5 (Bloomberg) -- The stock market posted its biggest plunge following a presidential election as reports on jobs and service industries stoked concern the economy will worsen even as President-elect Barack Obama tries to stimulate growth ...
2008 Election - OregonianDiane McKeel will take a seat on the Multnomah County Board of Commissioners in January, after a narrow come-from-behind victory. McKeel, the executive director of the West Columbia Gorge Chamber of Commerce, said she will spend the next two months ...
U.S. Stocks Drop on Economic Concern; Nucor, Boeing Retreat - BloombergU.S. Stocks Drop on Economic Concern; Nucor, Boeing Retreat By Elizabeth Stanton Nov. 5 (Bloomberg) -- U.S. stocks fell as reports showing the most private-sector job losses in six years and a slump in service industries spurred concern the economy ...
Media News - Mediabistro.comThe Los Angeles Times plans to cut 75 jobs, or 10 percent of its news staff, a response to the world financial crisis that is exacerbating already painful advertising declines at U.S. newspapers. The cuts are comparable in scale to some that the ...
US foreclosure filings up 71 percent in 3Q - Buffalo NewsThe number of homeowners ensnared in the foreclosure crisis grew by more than 70 percent in the third quarter of this year compared with the same period in 2007, according to data released Thursday. Nationwide, nearly 766,000 homes received at least ...
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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