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Report: Many in Southwest Florida owe more than their home is worth - Naples Daily News
Updated 8:31 p.m., Thursday, November 13, 2008 In Lee County, 30.4 percent — or about a third of all homeowners — owe more on their mortgage than their home is worth, according to a quarterly report by Seattle-based Zillow.com. In Collier County ...

School for the blind starts visionary newsroom - Newark Star-Ledger
Ed Murray/The Star-Ledger Judy Ortman, interim executive director of the Concordia Learning Center, is interviewed by student Indigo Estevez from Newark for the school paper. There's a buzz in the newsroom of a New Jersey start-up newspaper, and not ...

Perhaps the Fed raised rates too much - BusinessWeek
Here’s a thought…maybe part of the reason the credit markets are in such bad shape because the Fed raised rates too fast and too high. Think about it—they started raising rates in June, 2004. It was a quarter point increase, from 1 to 1.25. Two ...

Explaining a Volatile Week in Stocks - US News and World Report
So far, it looks like we're holding above 9,000 on the Dow today, although I'll be the first to admit it doesn't mean much before the closing bell given the huge swings we've been seeing this week, especially late in the day. Witness Wednesday: Even ...

What to Do When the Dow Hits 7,500 - Motley Fool
Talk about ironic ... I originally submitted this article to my editor on Aug. 29, after the Dow had fallen "all the way" to 11,500 -- but it never got published. The plan was to take you back to 1996 -- when the Dow crossed the 6,000 mark for the ...

Worries on Wall Street Continue - Best Syndication
A wild ride on Wall Street pushed stocks lower during morning trading and finished trading with 100 point gain. Fears about economy were clearly seen as investors were in despair stage today. Investors are ignoring good news and only focus on bad ...

George Osborne in trouble for forcing Oleg Deripaska into the ... - Times Online
George Osborne is fighting for his political life because his behaviour in Corfu has contributed to the blackening of the name of Oleg Deripaska, The Times has been told. Nathaniel Rothschild has acted against the Shadow Chancellor not only because ...

Peter Murray from toronto, Canada writes: Hmmmmm, - Globe and Mail
It seems that most people on here are arguing against Merrill an dnot the facts. U.S. subprime mortgages that ended 2 years ago. Canada 0% down, 40 year mortgages, unlimited portion of income set towards servicing debt ending now U.S. going into ...

Cowen to attend Paris economic summit - RTE Online
The Taoiseach Brian Cowen will be among the Eurozone leaders who are to meet in an emergency summit in Paris on Sunday to draw up a joint action plan to tackle the financial crisis. The French President Nicolas Sarkozy's office made the announcement ...

History's Biggest Margin Call - Safe Haven
What a vicious crisis. For the week, the Dow was hammered for 5.3% (down 36.8% y-t-d) and the S&P500 6.8% (down 40.3%). Economically-sensitive issues were, again, hammered. The Morgan Stanley Cyclical index dropped 12.0% (down 50.9%). The Transports ...

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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.

    View all Terms
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