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Wesfarmers chief supports government deficit strategy - The Australian
Mr Goyder said he supported the Government going into deficit in a downturn. He also took aim at politicians trying to gain mileage from the crisis, saying the recovery was too important for point-scoring. His comments came after Prime Minister Kevin ...

House Race Update: Ohio Sup. Ct. to Rule on Franklin County Votes - ABC News Blogs
ABC 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 ...

Feared Congo Rebel Leader Preaches Unity to Residents of Seized ... - FOX News
Nov. 17: Armed U.N. soldiers drive on the back of a pickup truck in Goma in eastern Congo. Nov. 17: Armed U.N. soldiers drive on the back of a pickup truck in Goma in eastern Congo. RUTSHURU, Congo — A feared rebel leader sought Saturday to ...

Worries grow on mortgage funds - The Age
FEARS are growing the crisis in the nation's $12 billion mortgage fund sector could soon spill into the broader property market, with developers and home buyers at risk of having a key funding tap shut off. The Federal Government last night brought ...

Maine Store's Alleged Obama Assassination Pool Sparks National Outcry - FOX News
After the post-election incident in Standish, Maine, town officials were bombarded with angry e-mails from around the country. And on Friday, hundreds gathered at a "Rally Against Hate" in Portland to denounce the racially charged sign and to appeal ...

Gordon Brown: world leaders should create 'truly global society' - Daily Telegraph
Mr Brown will use a high-profile speech in the City of London to say that Britain, the US and Europe should join together to provide leadership in the creation of a "stronger and more just international order". This weekend's emergency summit of ...

Fishing in Troubled Waters - Huffingtonpost.com
As the events of the past 24 hours have shown, the Republicans lack both the leadership and the unity to bring home any variant on Paulson's proposed bailout deal. This has been a special fiasco for John McCain, and a richly deserved one. With the ...

Tough times may provide silver lining - Toledo Blade
A hundred layoffs here, a thousand there. Plant shutdowns. Circuit City filed for bankruptcy. Now General Motors wonders if it will, too, even as the entire auto industry pleads for government help. Consumer spending is so tight now that the country ...

Bush Stands By Petraeus; New Showdowns With Hill Loom - US News and World Report
In remarks at the White House yesterday morning, President Bush said he would give Gen. David Petraeus "all the time he needs" in Iraq before proceeding with further reductions in US troop levels. Bush also said, as the CBS Evening News reported ...

Election 2008: Hillary Clinton in the news - Newsday
For Gov. David A. Paterson, there is more at stake than the choice of a U.S. senator to succeed Hillary Rodham Clinton pending a special election in 2010; there is also a statewide Democratic Party ticket to be shaped. WASHINGTON - Hillary Rodham ...

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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.

    View all Terms
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