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BA shares hit turbulence over pension fund worries - Times Online
Investors in British Airways were fastening their seatbelts yesterday amid fears that the carrier was flying into a pension fund black hole. The shares, already beset by a sudden drop in business-class passengers and rising oil costs, fell another 16 ...

Taylor Wimpey's refinancing talks delayed - Marketwatch
LONDON (MarketWatch) -- U.K. homebuilder Taylor Wimpey on Friday said talks with its banks and debt holders to renegotiate its borrowing agreements are taking longer than expected and won't be concluded before next year. Taylor Wimpey said the ...

FHA Program Will Rework Loans - Washington Post
The Bush administration rolled out a program yesterday that aims to help thousands of struggling borrowers refinance into more affordable, government-backed mortgages and thus provide some relief for the foreclosure crisis that's contributed to ...

Global financial crisis - Financial Times
The London market was routed on Monday with the FTSE 100 suffering its biggest one day percentage fall since Black Monday in 1987, and biggest points fall ever. The blue-chip index dropped 391.1 points, or 7.9 per cent, to finish at a four year low ...

Reverse Mortgages: Saviors for Seniors - Crestline Courier-News
In this issue The Mountain News presents the fourth installment in a multi-part series on economic topics affecting the mountains. This week we look at reverse mortgages, who they benefit and how they work. As Congress struggles toward consensus on a ...

New federal program is supposed to help struggling mortgage borrowers - Lincoln Journal Star
The Bush administration last week rolled out a program that aims to help thousands of struggling borrowers refinance into more affordable government-backed mortgages and thus provide some relief for the foreclosure crisis that has contributed to ...

HUD Launches Hope For Homeowners Program - All Headline News
Washington, D.C. (AHN) - Relief was offered by the federal government to struggling homeowners whose homes are in danger of foreclosure through the launch of the Hope for Homeowners program Wednesday. Rolled out by the Department of Housing and Urban ...

Bailout plan offers vague help to homeowners - Kansas City Star
The harsh reality for Murielle Montes and hundreds of thousands of homeowners who are behind on their mortgages is this: A $700 billion bailout of the financial industry will probably do little to help them avoid foreclosure. On Friday, House ...

Committee postpones action on RDA bond - Daily Independent
The Community Development Committee deferred action on an estimated $20 million bond list because it hasn’t received a recommendation from the Infrastructure Committee. But even if it had received the committee’s recommendation, the bond ...

Showing entries for Category: McCain - San Francisco Examiner
Image credit: Mike Mergen/Bloomberg News via the New York Times . Three hundred economists support John McCain's economic plan : Economists' Statement on John McCain's Jobs for America Economic Plan We enthusiastically support John McCain's economic ...

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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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