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Mag Mile mall owner having financial trouble - WLSCHICAGO (WLS) -- The owners of Chicago's Water Tower Place are having financial problems. General Growth Properties is now being forced to refinance its growing pile of debt or sell some of its well known malls. The firm is the nation's second ...
Iceland's bank crisis: Kaupthing taken over by Government - HeraldIceland's banking crisis deepened today after the country's biggest bank was taken over by the Government. Kaupthing, whose UK investment banking arm was put into administration yesterday leaving around 800 staff in limbo, is now in the hands of the ...
Today's Mortgage Terms starting with D
Default: Failure to fulfill legal obligations of a contract, including failure to make payments on a loan.
Discounted Loan: When the note rate on a loan is lower than the market rate, it is a discounted loan.
Discount Point: A point paid to the lender to permanently lower or acquire down an interest rate. Money must be paid up front to lower the rate.
Down Payment: The amount of cash you must pay down initially for the purchase of your home. For conventional loans, you should aim for a down payment that's at least 20% of your home's value. The reason is lenders generally do not require private mortgage insurance with a down payment of at least 20% of your home's purchase price.
View all Terms