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News about Mortgages:
Police: Ohio Man Broke into Preschool, Stole Teachers' Frozen Lunches - FOX NewsPolice say an officer who responded to a burglar alarm at a Miami Valley Child Development location last Saturday noticed 51-year-old John Brandon Jr. walking away from the building. The officer reported Brandon was carrying a blue bag around his ...
Arkansas edges South Alabama 79-77 - FOX NewsMOBILE, Ala. — Stefan Welsh hit a 3-pointer with 2.9 seconds left to give Arkansas a 79-77 win over South Alabama on Wednesday night. Trailing the Jaguars by four points with less than four minutes to play, the Razorbacks (3-1) used 3-point baskets ...
House Race Update: Ohio Sup. Ct. to Rule on Franklin County Votes - ABC News BlogsABC News' Teddy Davis and Arnab Datta Report: A federal appeals court ruled Tuesday that the Ohio Supreme Court -- and not a federal district court -- is the proper forum to decide how approximately 1,000 challenged provisional votes should be ...
U.S. banks mine data and pitch to troubled borrowers - International Herald TribuneBrenda Jerez hardly seems like the kind of person lenders would fight over. Three years ago, the New Jersey resident became ill with cancer and ran up $50,000 on her credit cards after she was forced to leave her accounting job. She filed for ...
Could your financial life be under a microscope? - Houston ChronicleBrenda Jerez hardly seems like the kind of person lenders would fight over. Three years ago, she became ill with cancer, and ran up $50,000 on her credit cards after she was forced to leave her accounting job. She filed for bankruptcy protection last ...
The Citigroup who stole Christmas - SalonThe Norwegian port town of Narvik is 200 miles inside the Arctic Circle, but that's not far enough north to escape the long arm of Citigroup. One of four Norwegian towns that invested millions of dollars in complex "structured finance" products ...
Faces Of Foreclosure - San Francisco GateHis toddler's shoes, festooned with greenery and bells, stood atop the neat pile. It was the only sign of holiday cheer in the Vallejo home, where most of the family's possessions are already packed up. They must vacate by the end of the year under ...
As Credit Tightens, Companies Curtail Spending, Expansion - Washington PostCarMax said this week that it might curtail lending by its financing arm. It laid off 600 workers this month in an effort to save costs. (By Chris Rank -- Bloomberg News) With bank lending windows slammed shut for the past month, countless companies ...
Jets' long drive at Buffalo was big boost - FOX NewsBrett Favre had just thrown an interception that was returned for a touchdown and swung the momentum back in favor of the Buffalo Bills. Then, he and the offense went back on the field. And stayed there. "It definitely, in my eyes, ranks so far this ...
Cardinals KO Seahawks 26-20 - FOX NewsKurt Warner completed 32 of 44 passes for 395 yards _ his franchise-record fourth straight 300-yard game _ and J.J. Arrington scored a career-high two touchdowns as Arizona held off the desperate Seahawks in a 26-20 victory on Sunday to essentially ...
Today's Mortgage Terms starting with M
Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.
Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.
Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.
Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.
Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).
Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.
Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment.
Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment.
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