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"Big Three" ask for $18B for a second time - Redlands Daily FactsFord, Chrysler and General Motors on Tuesday asked the federal government - for the second time - for loans. GM asked for $18 billion in loans, Chrysler a $7 billion "bridge" loan and Ford for a $9 billion line of credit. Detroit's "Big Three" showed ...
Alderwoman: ‘This is not terrible’ bills’ - Waynesville Daily GuideTimes will be tough next year for St. Robert, Finance Committee Chair-woman Theresa Cook acknowledged at a Thursday joint meeting of her committee and the city’s emergency services committee, but they’re not impossible. “We’re looking at this ...
3 Key Ways to Buy Foreclosed Properties - US News and World ReportMore than a million foreclosed and "distressed" properties are expected to hit the market this year, from two-bedroom starter homes to 20-room mansions. But while the banks that own many of them are now preparing to sell them en masse at auction ...
Traber's chaotic tenure at Baylor coming to an end - Houston ChronicleBaylor College of Medicine trustees dismissed Peter Traber as president Wednesday after a tumultuous 5½-year tenure that began with the school splitting with longtime partner Methodist Hospital and ended with it struggling to build its own hospital ...
McCain: No there there for Obama - Boston GlobeIn his first post-debate appearance, John McCain promoted his plan to have the federal government directly buy mortgages and refinance them at lower interest rates to help beleaguered homeowners. "We need to act quickly and decisively," he told ...
California Companies Take Courageous Step to Expand and Invest in ... - Biloxi Sun HeraldSACRAMENTO, Calif., Nov. 18 /PRNewswire/ -- Amid the current economic doom and gloom, there is a silver lining to new growth and economic development in some of the poorest sections of the state. The California Enterprise Development Authority (CEDA ...
Small businesses go to community banks for loans - Star-BannerBusiness owners are finding it harder to get loans as most lenders are tightening their standards, but the problem is largely restricted to banks with exposure to sub prime loans. But banks still need to loan money to make money and those financial ...
Mortgage-paying problems spreading - The Washington TimesThe housing foreclosure and delinquency crisis, which erupted last year as subprime borrowers with adjustable-rate mortgages began to default at record levels, has now begun to hit morecredit-worthy homeowners to an extent not seen before, according ...
California Companies Take Courageous Step to Expand and Invest - Newsblaze.comAmid the current economic doom and gloom, there is a silver lining to new growth and economic development in some of the poorest sections of the state. The California Enterprise Development Authority (CEDA) today announced bonds will be issued for ...
Natick Collection condos buffeted by bad timing - Boston Business JournalTwo years ago General Growth Properties embarked on an experiment. The concept: Build high-priced luxury condos at a suburban mall and load the condo complex up with amenities like a private rooftop park. Such an experiment was bound to be a hit with ...
Today's Mortgage Terms starting with F
Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.
Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.
First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.
Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.
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