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East metro town briefs - Minneapolis Star TribuneFriends of Minnesota Barns, a nonprofit group dedicated to preserving historic barns and other farm buildings, recently announced the winners of its inaugural Barn of the Year contest. Honorees included Lee Leysen, of Tracy, Minn. who won the grand ...
Daily Dose: Equity alternative - Topeka Capitol-JournalRoger Stirrett uses a home equity line of credit to improve his house and full-service hair salon in Topeka. "It's a very good tool," said Stirrett, owner of the Hair Port, 1015 N.W. Topeka Blvd. "I've paid it off two or three times. I have a $2,000 ...
Jurors hear confession tape in Randolph murder trial - Newark Star-LedgerAfter police caught Jonathan Zarate and two teen-agers trying to dump a trunk containing a Randolph girl's beaten and dismembered body into the Passaic River in Rutherford, Zarate told an investigator he had found his next-door neighbor dead. "I ...
How LI’s mortgage business came crashing down - Long Island Business NewsAmerican Home Mortgage represented a way to help people achieve their American dream by owning a home. Behind the scenes, American Home was also living the dream. Michael Strauss, over a 20-year period, grew the mortgage company from a home-based ...
Training can be key to getting new start - Minneapolis Star TribuneThao Moore is starting over -- again. As a child, she fled with her family to this country from Vietnam. Three decades later, her management job in Woodbury moved out of state. This time she stayed put, stepping off the corporate ladder to pursue her ...
Woodbury County area will share in disaster funds - Sioux City JournalDES MOINES -- A state program designed to help Iowa recover from disasters in recent months will set aside nearly $1.5 million in housing aid and nearly $13,000 in help for small businesses in Woodbury County and surrounding areas, Iowa Gov. Chet ...
Guilty plea in Central Valley-based mortgage scam - Times Herald-RecordCENTRAL VALLEY — A third suspect accused of taking part in a mortgage scam based in a home office in Central Valley has pleaded guilty, federal prosecutors announced this week. Riccardo White, 48, pleaded guilty to fraud charges on Monday in ...
Lenders that Have Closed Shop, - Wall Street JournalMore than 80 mostly subprime mortgage lenders -- those that make home loans to the riskiest borrowers with questionable credit -- have closed shop since the end of last year as clients defaulted on payments and banks cut off the funding required to ...
Housing Industry - Chicago TribuneNews, articles and information about the residential housing market, including apartment dwelling, home buying, mortgage lending, home improvement, real estate. Show more » News, articles and information about the residential housing market ...
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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