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Oregon says plan for dams lacks salmon protection - Seattle Post IntelligencerSALEM, Ore. -- Oregon filed a supplemental complaint Tuesday against the latest federal proposal for operating Columbia and Snake river dams, seeking withdrawal of a plan submitted in May by Columbia River tribes and the Bonneville Power ...
Housing bill won't solve market's problems - Miami HeraldWASHINGTON Cash-strapped homebuyers and borrowers facing foreclosure will get some relief from a housing bill passed by the House on Wednesday but the bill won't solve the deep-rooted ills of the U.S. housing market. The bill was widely praised by ...
Alaska Newsreader - Anchorage Daily NewsA new horror movie combines oil drilling, global warming and ancient ghosts, all set in Alaska. See story below. (IFMagazine.com) Club for Growth calls Rep. Don Young a "professional earmarker ." Club for Growth President Pat Toomey got more space in ...
Foreclosure rescue could boost housing - Miami HeraldU.S. House leaders Wednesday approved a colossal housing package that allows the federal government to back up to $300 billion in refinanced loans for at-risk borrowers, a measure that could save thousands of South Florida homeowners from foreclosure ...
Senator Durbin Introduces Quick Fix for Predatory Consumer Lending - Forbes36 percent cap ends out-of-control 400 percent rates WASHINGTON, July 23 /PRNewswire-USNewswire/ -- As a flood of high-cost and reckless lending saturates our nation, Senator Richard Durbin (D-IL) took a crucial and targeted step to clean up abusive ...
Gramercy Capital Corp. Reports Second Quarter 2008 Results - Forbes-- For the quarter, generated funds from operations ("FFO") of $32.9 million, an increase of $10.4 million, or 46.2%, from the $22.5 million generated in the same quarter of the previous year. On a fully diluted per share basis, FFO was $0.64 and $0 ...
Resets begin peaking on subprime loans - Inside Bay AreaThe number of homeowners facing an increase in their subprime adjustable-rate mortgage payments will peak this summer, testing the efforts of lenders and others to keep those people out of foreclosure and stabilize the housing market. The timing ...
Pallone to FEMA: Treat Bayshore same as D.C. - AtlanticvilleRep. Frank Pallone Jr. (D-6th District) wants the federal government to put revised flood maps for the Bayshore area on hold, just as it did in the nation's capital. In a letter to the Federal Emergency Management Agency's (FEMA) Region II Regional ...
Report: Homes harder to find - Daily GazetteCAPITAL REGION — Finding affordable housing is becoming harder as real estate prices rise in the Capital Region, according to a new state report. Second-home purchases in the rural counties north and south of the Schenectady-Albany-Troy area are ...
July 2008 - Weekly StandardPassionate Obama supporter Meteor Blades titled his Daily Kos essay on today’s colossal failure of a speech , “By This Foreign Policy Speech Will Future Ones Be Measured.” Fair enough – that’s why they make paint in different colors. In ...

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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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