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Swanson warns of financial scams - Sentinelo Never disclose your credit card number, check routing information, or other banking information to telemarketers or other solicitors. o Do not believe claims that you need to pay in order to "collect your winnings" from a contest or to obtain a ...
Simpsonville council to vote on budget cuts, taxes hikes - Greenville NewsSimpsonville City Council will vote Tuesday whether to cut departmental budgets by 1.5 percent, raise homeowners taxes or do a combination of the two to meet an expected $175,000 shortfall in the 2008-2009 budget. Council met in an emergency workshop ...
Stocks decline after huge rally - Eagle-TribuneNEW YORK (AP) — Stocks pulled back sharply Wednesday, erasing most of the previous session's big gains as investors grew concerned about the possibility that banks remain vulnerable to further problems from soured debt. The Dow Jones industrial ...
Cost of College a Bipartisan Concern - Inside Higher EdCongressional Republicans have been making known for years their concern about the rapidly escalating tuitions that colleges are charging. Higher education leaders have held out hope that Democratic lawmakers, now that they control Congress, would be ...
Countrywide's desperate rescue plan - SalonAnother day, another letter, addressed to me, from Countrywide. Two weeks ago, the company wanted to sell a protection plan for my big-ticket home appliances. Today, the pitch is for car insurance. Yesterday, yet another "special invitation" to ...
FINANCE: U.S. Mortgage Woes Leave Poor Homeowners Adrift - Inter Press ServiceWASHINGTON, Aug 24 (IPS) - The prospect of widespread dispossession is prompting closer scrutiny of U.S. mortgage lenders and calls for regulators to help poor borrowers, not big banks. About a dozen U.S. states have begun taking measures to protect ...

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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.
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