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News about Mortgages:
Clayton joins Bank of Canton mortgage team - Abington MarinerRich Clayton of Wayland has joined Bank of Canton as an area sales manager and senior mortgage planner. With more than five years experience in the mortgage and banking industry, Clayton previously served as assistant vice president and mortgage ...
Mets to Manuel: We kinda believe - CBS SportslineTHE Mets yesterday officially turned Jerry Manuel from their interim manager to their lame-duck manager. Manuel received a two-year contract for about $2 million, or essentially the same deal given last offseason to Marlon Anderson. Which makes him ...
Bankers try to allay local fears - Recorder Community NewspapersAs the nation’s largest banks literally choke over enormous debt from bad mortgages, area banks are still hungry and open for business, according to bank officials. The financial crisis on Wall Street has led to a series of stunning events: the ...
Fact Check: McCain, Obama Charges and Countercharges - ABC NewsWith reporting by the ABC News Fact Check team John Berman, Lisa Chinn, Dennis Dunlavey, Brian Hartman, Tom Giusto, Kimberley Randolph, Z. Byron Wolf, Justin Rood, Teddy Davis, Karen Travers, Kirit Radia, Luis Martinez, Ariane deVogue, Arlette Saenz ...
Road less travelled offers shelter - ArabianBusiness.comIn times of trouble, investors often race to US Treasuries. Alisher Djumanov suggests a far less obvious destination: Central Asia. Kazakhstan, Kyrgyzstan, Mongolia, Tajikistan, Turkmenistan and Uzbekistan don’t tend to come to mind when searching ...
Congress must act now to stem crisis - Recorder Community NewspapersWe are flabbergasted that seven of the 13-member state Congressional delegation voted against the administration’s financial market rescue plan, including Rep. Rodney Frelinghuysen, R-11. No region of this country has more to lose by a Wall Street ...
Road Less Traveled Offers Shelter From U.S. Mess: William Pesek - BloombergOct. 6 (Bloomberg) -- In times of trouble, investors often race to U.S. Treasuries. Alisher Djumanov suggests a far less obvious destination: Central Asia. Kazakhstan, Kyrgyzstan, Mongolia, Tajikistan, Turkmenistan and Uzbekistan don't tend to come ...
New rules aim for smoother defaults - Palm Beach PostGround zero for Palm Beach County's housing crisis is in front of Circuit Judge Jeffrey Colbath. Here, in Courtroom 4A, Colbath presides over a deluge of foreclosure cases. Some are commercial properties. Most are homes people live in. Of those ...
Amid crisis, local banks see opportunity - Times-NewsCalling the current financial climate stormy would be an understatement. The mortgage industry's fallout has kept the Dow Jones industrial average in cartwheels for months. Lehman Brothers Holdings and Washington Mutual Inc. went belly-up weeks ago ...
Business calendar - Florida Times-UnionMeninak Club, buffet 11:45 a.m., meeting 12:15 p.m., Wyndham Hotel, 1557 Prudential Drive. Speaker: Ken Tonning, president/general manager at First Coast News. Cathy Hill, (904) 745-3393. Green Cove Springs Rotary Club, 12:15 p.m., Village ...

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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.
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