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News about Mortgages:
Imogen Milford and Mark Henry in a fix over country cottage - News.com.auIMOGEN Milford and Mark Henry were thrilled to put an end to their high rental costs this year by buying a cottage at Daylesford. But now they regret fixing their home loan at 7.9 per cent for three years. They locked in the rate two months ago ...
Cops: Retiree pulled pistol on repo man - Connecticut PostMILFORD -- A city man, charged with pointing a gun at the tow truck driver trying to repossess his car, walked home Monday from Milford Superior Court with his wife, after she posted $15,000 bond to free him. Herbert Young, 66, of 125 North Ave ...
Goshay: Optimism needed now more than ever - Milford Daily NewsPresident-elect Barack Obama made a simple observation Wednesday about the current economic crisis that some people may have missed. Something that, in our despair, we seem to have thrown out with the bath water. He said simply, "We'll get through ...
Housing programs mostly unscathed in budget cuts - Milford Daily NewsEditor's note: This story is part of a series of reports on the impact of Gov. Deval Patrick's state budget cuts. A quick reading of Gov. Deval Patrick's $11.5 million in cuts to state housing programs can leave a reader grim. A mortgage subsidy ...
What to do - Memphis Commercial AppealThe Engineers' Club of Memphis meeting and lunch: 11:30 a.m., Holiday Inn at the University of Memphis, 3700 Central. Col. Thomas P. Smith, district commander, Memphis District, U.S. Army Corps of Engineers, will present arms. Fee: $14. Christian ...
Guido Tino remembered by many - TriVallyCentralGuido Tino loved life. The words used to describe him by his friends and family include "dynamic," "a total giver," "enthusiastic," and "a remarkable humanitarian." The 71-year-old Sherman resident, who died Nov. 21 of complications from a recent ...
Week in Review - Thursday, Nov 27 - Delaware OnlineTraffic is jammed getting into the Tanger Midway outlet center near Rehoboth tonight as shoppers wait for the locks to turn at the stroke of midnight. LAUREL -- When Josh Kosiorowski made a catch in the corner of the end zone with 28 seconds ...
Malloy prepares to run two races - Stamford AdvocateSTAMFORD - Mayor Dannel Malloy said he intends to run for mayor next year, while still aiming for the governor's office in 2010. Until recently, Malloy was mum on his re-election plans. But in recent weeks, he has begun to openly acknowledge plans to ...
Obama tells NY Times he'd do better without Fox News around - Los Angeles Times BlogsThe New York Times, of all places, has a long interview coming out Sunday with the freshman senator from Illinois, Barack Obama. In it, the Democratic presidential nominee, who's leading in most recent political polls, still bemoans the existence of ...
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 ...
Today's Mortgage Terms starting with P
Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
Principal: It is the amount of money borrowed or owed, excluding interest.
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