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News about Mortgages:
Pure Earth gets funding from Susquehanna Bank - Philadelphia Business JournalPure Earth Inc. said Monday it has closed on an $8 million term loan with Susquehanna Bank . The Trevose, Pa., company said it used $5.4 million of the loan to refinance debt at its Casie Group subsidiary. The rest will provide Pure Earth (Pink ...
Berks County - NewsdayState 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 ...
US plans to help homeowners refinance - Buffalo NewsFederal regulators told Congress Thursday they're working on a plan that could help many distressed homeowners escape foreclosure in a global financial crisis that Federal Reserve Chairman Alan Greenspan warned will get worse before it gets better ...
Commercial paper rises for first time in 7 weeks - Buffalo NewsThe 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 ...
Election 2008: Barack Obama in the news - NewsdayGeorgia residents packed polling places as early voting began in earnest this week, waiting as long as eight hours in line to cast ballots and forcing some voting sites to stay open deep into the night. Polls have been open in Georgia since Sept. 22 ...
RSS Feed: Local News - Tracy PressMortgage payment defaults in California are approaching a 10 year high. The state accounts for six of the nation’s top 10 metropolitan areas with the most foreclosures. For families facing foreclosure, these are stressful and difficult times. This ...
'Muzzled' Biden's Halloween Present: A Press Avail - ABC News BlogsABC News' Matthew Jaffe reports: Earlier this week, Republicans claimed that Sen. Joe Biden, D-Del., had been “muzzled” by the Democratic campaign, noting that he had not held a full-fledged press availability with traveling reporters since a ...
Today's Mortgage Terms starting with P
Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
Principal: It is the amount of money borrowed or owed, excluding interest.
View all Terms