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Loan drought hits European suppliers - Financial TimesFurther signs emerged on Thursday that a pullback on lending by banks has pushed many European companies to the brink of collapse. The German carmakers association, the VDA, on Thursday complained that banks were withdrawing credit lines or making ...
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 ...
Rogers: Senate improved bailout bill - Commonwealth JournalSomerset — The last time around, Somerset’s own Congressman Harold “Hal” Rogers was one of only two Kentuckians in the U.S. House of Representatives to support the $700 billion bailout of the nation’s troubled financial industry, which fell ...
RBS to slash 3,000 banking jobs worldwide - Times OnlineRoyal Bank of Scotland (RBS), the struggling bank, is preparing to axe up to 3,000 staff across its worldwide workforce as it braces itself against the onslaught of the global recession. Up to 1,000 jobs are expected to be lost in the UK, and today's ...
Macklowe May Lose $500 Million Site on Park Avenue (Update1) - BloombergSept. 11 (Bloomberg) -- New York developer Harry Macklowe may lose a building site on Manhattan's Park Avenue about a third the size of a city block after he defaulted on a $513 million loan and Deutsche Bank AG asked a court to force a sale of the ...
Wicomico voters OK finance referendums - Delmarva NowCounty voters soundly approved Questions A and B -- which amend the county's charter -- by 82 and 71 percent, respectively. Question A gave Wicomico officials the ability to refinance debts while B provides the option to extend bond maturities from ...
Darling details £50 billion bank bailout plan - Times OnlineChancellor Alistair Darling today launched a drastic rescue of Britain's high street banks in move designed to head off a cataclysmic failure of confidence by announcing a part-nationalisation plan with £50 billion of taxpayers' money. He said there ...
Independent HBOS 'could be funded by the Treasury' - ScotsmanTHE UK Treasury yesterday indicated for the first time that it may consider injecting funds into an independent HBOS if the bank's proposed merger with Lloyds TSB collapses. The move is a departure from the Treasury's repeated refusal to say what it ...
Today's Mortgage Terms starting with S
Second Mortgage: An additional mortgage that has rights that are secondary to the first mortgage.
Sellers Market: Market conditions that are favorable to sellers. There are more buyers than properties available for sale. The buyers may be forced to compete and pay more for the same property.
Settlement Costs: Money paid by the borrowers and sellers to complete the closing of a mortgage.
Settlement Cost (HUD Guide): HUD publishes a booklet that gives an overview of the lending process and is given to consumers after completing their loan application.
View all Terms