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World leaders agree on plan to fight recession - Windsor Star
WASHINGTON -- World leaders Saturday backed a combination of measures to kick-start growth with better financial market regulation and more say for emerging countries as their response to the global economic crisis. Presidents and prime ministers ...

School for the blind starts visionary newsroom - Newark Star-Ledger
Ed 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 ...

Auto loan arms seek bank status - Detroit News
WASHINGTON -- Ford Motor Credit Co. and Chrysler Financial are lobbying Congress and federal banking regulators to become industrial loan corporations, which would allow them to accept deposits. That represents a cheaper source of capital than other ...

GM, Chrysler deal clears major issues - Windsor Star
DETROIT - General Motors Corp. and Cerberus Capital Management have resolved the major issues in a proposed GM-Chrysler merger, but the final form of any deal would depend on the financing and government support available, sources familiar with the ...

Teck plumbs depths on black day for coal - Windsor Star
Faced with tumbling commodity prices, a free-falling stock price and an over-levered balance sheet, Teck Cominco Ltd. unveiled a wide-ranging plan Tuesday to conserve capital and pay back debt amid a rapidly-deteriorating metals sector. Without ...

US foreclosures hit another record - Turkish Daily News
U.S. foreclosure filings rose to a record in August as falling home prices made it harder to sell or refinance homes to pay off the mortgage, RealtyTrac said. Owners of 303,879 properties, or one in 416 U.S. households, got a default notice, were ...

Why Does College Cost So Much, and Is It Worth It? - FOX News
"Thank you for airing a program about real issues, real people, and real problems. Americans want to hear how to solve our everyday problems, not about other countries problems. We all struggle to pay bills and want to know how to afford to send our ...

Is the era of easy credit over for the long haul? - Journal Inquirer
Kenny the cop' mourned in Windsor Locks Windsor Locks Police Officer Ken Kersias monitors traffic as the department's radar speed display unit indicates a car is moving above the posted speed limit in the area in November 2005. Kersias, the ...

VEDA approves $56 million in financing - Burlington Free Press
The Vermont Economic Development Authority announced Thursday it has approved $55.5 million in financing to support development projects at local companies. Jo Bradley, the authority's CEO, said the financing efforts "will strengthen businesses ...

Ottawa bows to banks to keep credit flowing - Globe and Mail
Silver Standard (Robert Menard Rules:)) from Canada writes: Well here we go guys, get your money out of paper. We are going to go down with the USA. We really don't need to do this, its criminal what they are going to do with or savings. All the ...

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Today's Mortgage Terms starting with S

  • Second Mortgage: An additional mortgage that has rights that are secondary to the first mortgage.
  • Seller’s Market: Market conditions that are favorable to sellers. There are more buyers than properties available for sale. The buyers may be forced to compete and pay more for the same property.
  • Settlement Costs: Money paid by the borrowers and sellers to complete the closing of a mortgage.
  • Settlement Cost (HUD Guide): HUD publishes a booklet that gives an overview of the lending process and is given to consumers after completing their loan application.

    View all Terms
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