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Mortgages still available in the Gila Valley - Eastern Arizona CourierIt’s still possible to qualify for a home mortgage in Graham County — even with a credit score that is less than perfect. “You have to have good credit, but not pristine credit,” real estate broker Tracey O’Donnal said. Most Valley ...
News By You - citizenet.comSept. 15 – The Dow Jones industrial average plummeted 500-plus points, the biggest one-day decline since 2001. At the same time, Bank of America absorbed Merrill Lynch. Sept. 16 – Stocks rallied as investors reacted positively to the Federal ...
Assessor candidate involved in lawsuit - Eastern Arizona CourierGraham County Assessor candidate Darlene Alder is facing more than a tough campaign – she and her husband, Tim, are having to answer questions regarding a $6 million lawsuit. The lawsuit, filed by Mortgages LTD of Phoenix on March 20, was recently ...
Today's Mortgage Terms starting with F
Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.
Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.
First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.
Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.
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