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News about Mortgages:
Provo mall owner in financial straits - Daily HeraldCHICAGO -- Shares of General Growth Properties Inc., which owns six malls in Utah including the Provo Towne Centre, plummeted Tuesday after the mall owner warned it faces solvency trouble and may be forced to file for bankruptcy if it can't refinance ...
Foreclosure filings are up in Utah - Daily HeraldWhile the deepening housing slump and tight credit conditions have resulted in rising numbers of foreclosures in Utah, local real estate experts downplay the magnitude of the problem here compared with that of California, Florida, Arizona, Nevada ...
Today's Mortgage Terms starting with L
Lender: The bank, mortgage company or mortgage broker providing the loan.
Loan Application: A statement of personal and financial information needed to apply for a loan.
Loan Application Fee: A fee applied by a lender to cover the initial costs of putting through a loan application. The fee could include the cost of getting a property appraisal, a credit report and a lock-in fee and other closing costs incurred to complete the transaction.
Loan Origination Fee: Fee charged by a lender for the administrative costs of processing a loan.
Loan to Value Ratio (LTV): The balance of the mortgage outstanding as a percentage of the home's price.
Lock or Lock In: A lender's guarantee of an interest rate for a specific period of time. The time period is usually between the loan application approval and loan closing. The borrower wants the lock to stay in effect until closing.
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