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Water Tower Place - Chicago TribuneYou can't walk five steps in Chicagoland without bumping into a holiday model train display this year. Morton Arboretum has one. So does Chicago Botanic Garden. And the John Hancock Center. And the Lincoln Park Conservatory. And the Museum of ...
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Paulson Pulls Bait and Switch, Let's Pull One of Our Own - OpEdNews.comWait a Wall Street minute! That’s exactly what the American taxpayers did NOT want to happen. The whole idea of approving something as distasteful as a bailout of Wall Street was that it had to ensure that it’s focus was to reduce foreclosures on ...
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Today's Mortgage Terms starting with F
Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.
Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.
First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.
Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.
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