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When rental houses are foreclosed on, tenants suffer - Fort Worth Star-TelegramSPECIAL TO THE S-T/RICHARD W. RODRIGUEZ Audrey and Will Pinkerton and daughters Kate, 7, and Alex, 12. They’re staying in their foreclosed-on rental house until they move into a house they bought. SPECIAL TO THE S-T/RICHARD W. RODRIGUEZ Eight ...
Year in Review: West Michigan loses homeowners to foreclosures ... - MLive.comIn 2008, the pace of local housing foreclosures got worse before it got better, the sudden scarcity of credit claimed otherwise viable businesses and automakers' woes translated to a major loss for the once-vibrant motor city of Wyoming. Amid the ...
Mortgage lending falls to new record low - Times OnlineThe home loans drought has deepened with mortgage borrowing activity dropping to another record low in November and banks further restricting access to loans over the past three months. The Bank of England reported this morning that the number of new ...
Obama Pitches Stimulus Plan Call for $300 Billion in Tax Cuts Wins GOP ... - Washington PostPresident-elect Barack Obama arrived on Capitol Hill yesterday and immediately set to work reassuring skeptical Republicans about his massive economic stimulus package -- part of a campaign that earned him praise for seeking their input but questions ...
No. 1: The economy - Winchester StarWinchester — It’s been called the mortgage crisis, the housing slowdown, the economic downturn, and the credit crunch. Some alarmists even called it the second Great Depression. A line of people waits at the former Rich food-products plant on ...
Year In Scandals: Forgotten Stories From the Market Meltdown - HULIQ.comHow did billion become the new million? Well, that's the trillion-dollar question. And as the year comes to a close, everyone is looking backwards to figure it out. But in the deluge of financial news this year, many stories are bound to get ...
Housing problem expands in state - Lynchburg News and AdvanceThe number of foreclosures in Virginia more than doubled during the first 11 months of 2008, compared with all of 2007. Data analyzed by the Richmond Times-Dispatch show 27,938 foreclosures statewide in the 2008 period for all property types ...
All News... Prices won't stay low forever - Kent OnlineDiscounts and other incentives from housing developers are in place to attract buyers while the market is struggling, says Peter Randall of RPC. With developers having difficulties in selling housing stock and looking to unlock cash for future ...
Pejman Yousefzadeh , Attorney and blogger: - Politico.comIt should surprise precisely no one when we see that Paul Krugman--and like-minded others--argue that only a massive fiscal stimulus will save us from a new Great Depression. Their policy advocacy, however, is based less on what will genuinely lift ...
Endangered arts - Times ReporterPoet Langston Hughes once wrote that “money and art are far apart.” In these tough economic times, the Tuscarawas County Center for the Arts at New Philadelphia is hoping to bring the two a little closer together. Like many other non-profit ...
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.
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