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News about Mortgages:
Attorney Gen. Madigan Sues Mortgage Rescue Firms - CBS 2 ChicagoCHICAGO (CBS) ― Illinois Attorney General Lisa Madigan is warning struggling homeowners about mortgage rescue companies. Madigan on Tuesday announced that she's filed seven new lawsuits against businesses she says offered false hope to homeowners ...
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Today's Mortgage Terms starting with E
Equity: The difference between the current market value of a property and the total debt outstanding against the property.
Escrow: A transaction in which a third party represents both the buyer and seller, or for borrower and lender, involving the handling of legal documents and disbursement of funds. In some parts of the US, escrow of taxes and insurance premiums are referred to as impound or reserves.
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