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News about Mortgages:
How do things get so big? - Augusta ChronicleWhen both the markets and the economy went into collapse mode last fall, recall how Treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke, among others, understandably justified the financial industry rescue. They kept saying how some ...
Rescue me!: Foreclosures sweep through housing markets - TradingMarkets.comThere are some last-minute things you can do to save your home, said Nicole Caldwell, the vice president of professional services at Consumer Credit Counseling Service. "It's never too early to get help. Don't be afraid of talking to the mortgage ...
Trial Begins For Man Accused Of Killing Boss After Bad Review - WBBM(STNG) - Just a day after Tom Tuduj received a subpar job evaluation and was told he would be docked $10,000, the construction employee swiped a knife from the Northwest Side company’s kitchen and fatally stabbed his politically connected boss ...
Budget top issue for Maine lawmakers in 2009 - MSN MoneyCentralAUGUSTA, Maine (AP) - With Maine running hundreds of millions of dollars short of what it needs to keep government going at its present clip, the budget is bound to be the overarching topic during this year's six-month legislative session, which gets ...
State lawmakers ready for ’09 session - Bangor Daily NewsAUGUSTA, Maine — With the state running hundreds of millions of dollars short of what it needs to keep government going at its present clip, the budget is bound to be the overarching topic during this year’s six-month legislative session, which ...
Hate to be Rude - GolfWeek• A bailout is coming for dimpleheads. And why not? Everyone and everything else is getting bailed out: housing, banking, mortgage and automobile industries, you name it. Golf’s bailout, of course, will come in the form of Tiger Woods’ return ...
Carrying on, cautiously - Maine Sunday Telegram• Has a job. • Saw the unemployment rate grow to 6.3 percent from 4.9 percent a year earlier. • Lives in a household that earns nearly $46,000 a year. • Paid 7 percent more for food this year. • Owes $18,807 in consumer debt. • Resides in ...
Hedge Fund Tracking: Harbinger Capital Partners (Philip Falcone), Q3 ... - Seekingalpha.comThis is the Third Quarter 2008 edition of our ongoing hedge fund portfolio tracking series. Before reading this update, make sure you check out the preface to the series we're doing on Hedge Fund 13F filings here . The other funds we've already ...
MAINERS REMAIN ON EDGE 'Typical' resident so far not bankrupted and ... - Morning SentinelIn recent months, there have been fewer dinners out and fewer date nights that require Brooke Beaucage-Ghans and her husband to hire a baby sitter. Instead, she's clipping coupons, opting for the store brand of ice cream and searching for bargains ...
Today's Mortgage Terms starting with M
Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.
Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.
Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.
Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.
Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).
Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.
Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment.
Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment.
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