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Meltdown far from over, new mortgage crisis looms - Newark AdvocateWASHINGTON (AP) -- Black Friday's retail shoppers hunting for holiday bargains won't be enough to stave off what's likely to become the next economic crisis. Malls from Michigan to Georgia are entering foreclosure, commercial victims of the same ...
Suit: $5M funneled to New York Observer through real estate deal - New York Daily NewsA record-setting Manhattan real estate deal masked millions of dollars that helped prop up the money-losing New York Observer and covered improper personal expenses, according to a report. A former top exec in the Kushner Cos ., which paid $1.8 ...
Home Equity ID Theft Ring Points To A Bigger Problem - Blogcritics.orgOn Monday, Federal authorities informed the public of a series of arrests where identity theft was used to steal the equity out of homes. I guess we've already lost so much money in the mortgage crisis, they figured it wouldn't matter? The four ...
Suit: Florham Park developer funneled cash from skyscraper purchase to ... - Morris County Daily RecordOne of the biggest commercial real estate deals in New York City history was used by Florham Park-based developer Charles Kushner to funnel more than $5 million into the New York Observer, the newspaper run by his son, Jared, according to a former ...
Stocks fall sharply on consumer spending worries - Newark AdvocateNEW YORK (AP) — The reality that the nation is indeed in recession and that the downturn may well be prolonged sent Wall Street plunging Monday, hurtling the Dow Jones industrials down nearly 700 points and wiping out more than half of last week's ...
Suit alleges Kushner diverted $5M to prop up N.Y. newspaper - Newark Star-LedgerOne of the biggest commercial real estate deals in New York history was used by developer Charles Kushner to funnel more than $5 million into the New York Observer, the perennially money-losing newspaper run by his son Jared, according to a former ...
Week in Review - Sunday, Nov 30 - Delaware OnlineSecret 'superchecks' let state police look at mental health records. WASHINGTON -- When the government took over mortgage giants Fannie Mae and Freddie Mac, taxpayers inherited more than just bad debts. They're also potentially on the hook for tens ...
Pittsgrove securities agent has license revoked - Bridgeton NewsNEWARK -- A Pittsgrove man is one of two agents who had their registrations revoked by the state Bureau of Securities for allegedly defrauding two older investors of approximately $1.4 million. The two agents allegedly offered their victims ...
New jobless claims drop from 16-year high - Yahoo NewsAP – Job seekers fill out forms at a job fair sponsored by Monster.com at a hotel in Newark, N.J., Thursday, … WASHINGTON – New jobless claims fell more than expected last week from a 16-year high, the government said Wednesday, though they ...
Reaction strong to 'mess column" - Contra Costa TimesI have been engulfed with a flood of reactions to my Nov. 3 column that posed the question "How did we get into this mess?" My take on the current financial crisis, which made the point that it started with widespread greed and ignorance last year ...
Today's Mortgage Terms starting with S
Second Mortgage: An additional mortgage that has rights that are secondary to the first mortgage.
Seller’s Market: Market conditions that are favorable to sellers. There are more buyers than properties available for sale. The buyers may be forced to compete and pay more for the same property.
Settlement Costs: Money paid by the borrowers and sellers to complete the closing of a mortgage.
Settlement Cost (HUD Guide): HUD publishes a booklet that gives an overview of the lending process and is given to consumers after completing their loan application.
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