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News about Mortgages:
Malls, hotels next victims in mortgage crisis as signs show meltdown ... - Grand Forks HeraldBlack Friday's retail shoppers hunting for holiday bargains won't be enough to stave off what's likely to become the next economic crisis. Malls from Michigan to Georgia are entering foreclosure, commercial victims of the same events poisoning the ...
General Growth stock surges on news of purchase - Las Vegas SunThere's finally a bit of good news for the beleaguered stockholders of General Growth Properties Inc., the Chicago real estate giant that is a big player in the Las Vegas economy. General Growth earlier this month warned it might have to file for ...
Time for the Fed to start manipulating mortgage rates? - Los Angeles Times BlogsIf you could refinance your mortgage at a 4% fixed rate, you could probably save a bundle, right? Veteran Wall Street economist Ed Yardeni says it's time for the Federal Reserve to engage in direct market manipulation of long-term interest rates ...
State Supremes: unsubstantiated allegations of teacher sexual ... - Spokane Spokesman-ReviewIn a case where the 11 petitioners are all known as John Doe, the state Supreme Court ruled 6-3 this morning that unsubstantiated allegations of teacher sexual misconduct can be withheld from public disclosure. School districts can investigate any ...
Register for FREE - Wall Street JournalPlease register to gain free access to WSJ tools. An account already exists for the email address entered. That has been the mantra of CEOs up and down Wall Street throughout this year’s financial crisis. Lehman Brothers Holdings’ Dick Fuld used ...
Unhand that economy, villein! - Meganmcardle.theatlantic.comI've been thinking about this for awhile. How much of this current crisis is just a manifestation of the American--indeed human--will? We're always talking about politicians deluding us and Wall-Street manipulating us, and predatory lenders conning ...
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 ...
Haverhill woman's tale of housing woe offers view into global ... - Eagle-TribuneMarie Martinez rode the real estate wave for a decade, buying property worth, on paper, more than $1 million. Then she hit the rocks and lost everything. Martinez's story mirrors those of millions of Americans caught up in the real estate frenzy that ...
How to Make a Spending Plan - Wall Street JournalPeople hate budgets because budgets seem confining. Like diets, budgets are forever begun with grand intentions, only to be quickly ditched when spending restraints seem too much like a yoke preventing you from disbursing your money as you like. But ...
Credit crunch imperils Cleveland's commercial development projects - Cleveland Plain Dealer BlogJohn Kuntz/The Plain Dealer Credit problems are hurting businesses across the nation. Some commericial developments in Cleveland could be at risk. Cleveland's nascent development renaissance could be standing on shaky ground, with a series of high ...
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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