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News about Mortgages:
Bernanke urges action to prevent foreclosures - The AgeFederal Reserve Chairman Ben S. Bernanke said the US government must step up efforts to prevent home foreclosures, with options including buying delinquent mortgages and providing bigger incentives for refinancing loans. The government could buy ...
Bernanke Says Government Must Step Up Efforts on Foreclosures - BloombergDec. 4 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke said the U.S. government must step up efforts to prevent home foreclosures, with options including buying delinquent mortgages and providing bigger incentives for refinancing loans. The ...
Bernanke Says U.S. Must Step Up Foreclosure Efforts (Update1) - BloombergDec. 4 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke urged using more taxpayer funds for new efforts to prevent home foreclosures, saying the private sector is incapable of coping with the crisis on its own. The Fed chief outlined four ...
Area housing market slips as prices drop 14% over the past year - Record SearchlightRedding’s housing market sizzled five years ago when it topped a government index as the fastest-appreciating area in the nation. It was the dawn of an unprecedented real estate run-up that exhausted itself in early 2006. Today, Redding is one of ...
Fannie, Freddie Plan to Buy Jumbo Mortgages - CNBCA list of the 8 worst pirate-infested places on earth, along with a sampling of the types of attacks that have taken place there this year. The CEOs of Fannie Mae and Freddie Mac told CNBC that said some of the money made available to the home ...
Feds Streamlining Homeowner Aid - Street.ComWASHINGTON -- The government and the mortgage industry are launching the most sweeping effort yet to help troubled homeowners by speeding up the process for renegotiating hundreds of thousands of delinquent loans held by Fannie Mae ( FNM Quote ...
Fannie and Freddie Will be Important in Economic Recovery, Lockhart ... - Yahoo FinanceWASHINGTON, Nov. 7 /PRNewswire/ -- At the 2008 REALTORS® Conference & Expo today, Federal Housing Finance Agency Director James B. Lockhart III assured Realtors® that government-sponsored enterprises Fannie Mae and Freddie Mac and the Federal Home ...
Let's Use Fannie to Clean Up the Mess It Made - Wall Street JournalEarlier this week, James Lockhart, the director of the Federal Housing Finance Agency and the government conservator of Fannie Mae and Freddie Mac, said that the two companies need to begin writing down the principal on mortgages they hold or acquire ...
U.S. administration cuts back mortgage relief plan - International Herald TribuneWASHINGTON : The administration of George W. Bush is backing away from proposals to have the government refinance a broad swath of U.S. homeowners who face foreclosure after taking out subprime mortgages and other high-risk loans over the past few ...
White House scales back a mortgage relief plan - International Herald TribuneWASHINGTON : The Bush administration is backing away from proposals to have the government refinance a broad swath of homeowners who face foreclosure after taking out subprime mortgages and other high-risk loans over the last few years. The clearest ...
Today's Mortgage Terms starting with D
Default: Failure to fulfill legal obligations of a contract, including failure to make payments on a loan.
Discounted Loan: When the note rate on a loan is lower than the market rate, it is a discounted loan.
Discount Point: A point paid to the lender to permanently lower or acquire down an interest rate. Money must be paid up front to lower the rate.
Down Payment: The amount of cash you must pay down initially for the purchase of your home. For conventional loans, you should aim for a down payment that's at least 20% of your home's value. The reason is lenders generally do not require private mortgage insurance with a down payment of at least 20% of your home's purchase price.
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