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News about Mortgages:
Moon: Differentiate between your home, asset - Knoxville News SentinelYou've likely read (or chosen not to read) many different lists of the best or worst or most surprising something from 2008. My list is shorter. It contains only one item: the single most important and far-reaching business revelation from 2008. Any ...
King takes over as BB&T chief executive - Knoxville News SentinelKelly S. King took over today as Chief Executive Officer of BB&T Corp. King succeeds John Allison who retired after 19 years as CEO. BB&T, based in Winston-Salem, N.C., is the fifth largest bank in metropolitan Knoxville, with 18 area offices and 7.7 ...
Recession drags on - Nashville TennesseanIf you thought 2008 ended badly, be prepared for a slower start to 2009. Middle Tennessee's economy probably will continue to deteriorate well into the new year. Rising unemployment, a stagnant housing market and uncertainty about one of the area's ...
NDN Editors' Top 10 local stories of 2008: Agree or disagree? - Naples Daily NewsNAPLES — You can bet your bottom dollar the crummy economy was the top story of the year in Southwest Florida. For Daily News editors, nothing else made sense. The foreclosure and unemployment crisis that saw Lee logging one of the nation’s worst ...
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.
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