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Financial News
Editorial: Fed Targets Mortgage Markets - Philadelphia Daily News
The federal government's dizzying series of bailouts finally has taken aim at the industry where the cash can do the most good - housing. The Federal Reserve's decision to buy $500 billion of mortgage-related debt from Fannie Mae and Freddie Mac was ...

Berks County - Newsday
State officials are investigating the attack of an Amish man in southern Lancaster County by what's being described as a big cat. Samuel Fisher was attacked near his home shortly before nightfall Thursday. He had seen the cat in a farm field and ...

Commercial paper rises for first time in 7 weeks - Buffalo News
The market for the short-term debt known as commercial paper rose last week - a good sign for companies worried about having to refinance at the end of the year, when investors are loath to add risk to their balance sheets. The Federal Reserve said ...

US foreclosure filings up 71 percent in 3Q - Buffalo News
The 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 ...

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Today's Mortgage Terms starting with N

  • Notice of Default: A step in the foreclosure process in which the lender formally informs the court that the borrower is in late in payments.
  • Non-Assumption Clause: A provision in a mortgage contract preventing the assumption of the mortgage by another borrower without the lenders permission.

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