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News about Mortgages:
Mortgage scammer sentenced to 30 months - Palm Beach InteractiveConvicted mortgage scammer Ralph Michel was sentenced this morning to 30 months in federal prison for his role in using dozens of properties to rip off lenders for millions . Michel’s attorney described him as illiterate and said he was far from ...
Builder Baesler declares bankruptcy - Lexington Herald-LeaderA builder whose unfinished house on Indian Mound Road in Lexington drew complaints last summer from neighbors has declared bankruptcy. Dudley Scott Baesler and his wife, Shelly, filed a Chapter 7 petition recently in U.S. Bankruptcy Court. Baesler is ...
Will Any Crumbs Remain After Bankers' Feast? - Common DreamsUNITED NATIONS - The vast resources the U.S. and Europeans are pouring into ailing financial firms could lead to disastrous consequences for global efforts to reduce poverty and mitigate the impacts of climate change, warns a new study by an ...
Possum urine, spent syringes and other tactics of mortgage scammers - Palm Beach InteractiveSubprime loans are gone, but mortgage fraud is alive and well, a Freddie Mac mortgage fraud investigator says. During the mortgage fraud boom, predatory borrowers overpriced properties, took out 100 percent financing, paid the seller a lower price ...
A superspy's glamorous hot spots - MSNBCThe scene: Packing the narrow streets of Siena, crowds cheer Italy's most famous bareback horse race. Across the rooftops above them, James Bond (Daniel Craig) chases a villain. The place: Last summer, cameras rolled to capture the scene as 10 horses ...
Payouts to savers would cripple Icelandic economy, says Geir Haarde - Times OnlineThe Icelandic economy would be crippled if the country had to pay British savers in its stricken banks the full amount that Britain claims is due, the country’s Prime Minister said yesterday. “I don’t want to make comparisons with Versailles ...
Brown calls for larger IMF bailout fund - International Herald TribunePARIS : Prime Minister Gordon Brown of Britain grabbed the limelight from President Nicolas Sarkozy of France ahead of their meeting Tuesday, calling for China and the Gulf states to stump up more money to help the International Monetary Fund deal ...
Business Notes - Lexington Herald-LeaderVersailles-based engineering company to open W.Va. office A Versailles-based engineering company that provides technical services to the oil and natural gas industry plans to open an office in West Virginia. Energy Management Services Co. said ...
Register for FREE - Wall Street JournalThe past year has been a trying time for both the titans of Wall Street and the brainiacs in Wall Street's computer-filled backrooms who, in recent years, have devised complex instruments for raising money, lending money and dispersing risk. They ...
Spend, spend, spend: Alistair Darling adopts John Maynard Keynes ... - Times OnlineAlistair Darling intends to raid future budgets to pay for massive public spending projects in an attempt to counter the economic slowdown. Invoking John Maynard Keynes’s response to the Great Depression of the 1930s, the Chancellor said that he ...
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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