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News about Mortgages:
Surviving the housing crisis - Burlington UnionThere are more than seven million homeowners who are “underwater,” a term that describes the situation when your mortgage exceeds the value of your home. Nationwide, one out of five homeowners are underwater. In Nevada, where the prices have ...
City stays with Main Street - Hawk EyeWhen it comes to supporting Main Street Iowa, Burlington City Council members believe in the old adage, "If it's not broke, don't fix it." During regular session Monday, the council approved a resolution in support of the program with more than two ...
Fitch U.S. Retail Outlook: Navigating a Difficult Path for Holiday and ... - CNBCNEW YORK, Nov 19, 2008 (BUSINESS WIRE) -- Fitch Ratings expects that the 2008 holiday season will be extremely challenging for retailers and could be the weakest season over the past two decades. Real retail sales turned negative in the back to ...
School for the blind starts visionary newsroom - Newark Star-LedgerEd Murray/The Star-Ledger Judy Ortman, interim executive director of the Concordia Learning Center, is interviewed by student Indigo Estevez from Newark for the school paper. There's a buzz in the newsroom of a New Jersey start-up newspaper, and not ...
Sanders asks Paulson to block bonuses - Boston GlobeBURLINGTON, Vt.— Vermont's junior senator is asking Treasury Secretary Henry Paulson to block bonuses for executives at the nation's nine largest banks that were recently propped up with taxpayer funds. Sen. Bernie Sanders has written to Paulson ...
VEDA approves $56 million in financing - Burlington Free PressThe Vermont Economic Development Authority announced Thursday it has approved $55.5 million in financing to support development projects at local companies. Jo Bradley, the authority's CEO, said the financing efforts "will strengthen businesses ...
Suicides from financial crisis cause concern - Burlington Free PressAn out-of-work money manager in California loses a fortune and wipes out his family in a murder-suicide. A 90-year-old Ohio widow shoots herself in the chest as authorities arrive to evict her from the modest house she called home for 38 years. In ...
Huck's posts 3Q profit - Hawk EyeAfter seeing red for the first two quarters of the year, the city of Burlington netted $30,748 in profit on its $1.8 million investment in Huck's Harbor. The water park located at Burlington entrepreneur Randy Winegard's FunCity entertainment complex ...
Councilman opposes logging - Hawk EyeIt's a move that will earn the city of Burlington a profit and help to reinvigorate the ecology of Otter Island, according to a forestry expert hired by the city. However, not all members of the Burlington City Council are on board with a plan to ...
Senator asks Paulson to block bonuses - KRON4BURLINGTON, Vt. (AP) - Vermont's junior senator is asking Treasury Secretary Henry Paulson to block bonuses for executives at the nation's nine largest banks that were recently propped up with taxpayer funds. Sen. Bernie Sanders has written to ...
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