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News about Mortgages:
SoCal Assemblyman Pushes Mortgage Moratorium Plan - CBS 2 KCAL 9EL SEGUNDO (CBS) ― An assemblyman from the South Bay says he will try again to get the California Legislature to approve a moratorium on mortgage foreclosures, a plan backed by the governor but strongly opposed by the state's banks, it was reported ...
Florida leads nation in fraudulent mortgage applications - Miami HeraldDespite more stringent underwriting of mortgages in the wake of record foreclosures, lenders continued to battle the problem of home loan fraud during the second quarter of theyear, with Florida borrowers again submitting more questionable loan ...
A case study in housing collapse - St. Petersburg TimesTAMPA — Thousands of miles from the trading floors of global stock markets, an abandoned house in one of Tampa's poorest neighborhoods is an improbable place to learn about why the world's financial system is collapsing. But if you want to ...
Crist says banks agree to delay foreclosures - St. Petersburg TimesGov. Charlie Crist announced a handshake deal with many Florida banks that have agreed to voluntarily delay scheduling foreclosure sales of homesteaded homes for 45 days. The initiative, which doesn't bind banks to any action, comes after Crist ...
Mortgage rate drop sparks surge in consumer interest - San Jose Mercury NewsBorrowers descended on the home loan industry Wednesday after the federal government's latest move to shore up the financial system sparked a sharp drop in interest rates. Valley brokers said business picked up immediately as rates dropped from 6 ...
Choose Another City: - Birmingham Business JournalKarazy Mortgage Trust articles from the South Florida Business Journal
Great Wolf talking with lenders about mortgage extension - Milwaukee Journal SentinelDec. 1, 2008 11:42 a.m. | Madison-based Great Wolf Resorts Inc. says it remains in discussions with its lenders regarding an extension of yesterday's maturity date on a $76.8 million mortgage loan on its Mason, Ohio, water park resort. Until those ...
Sweden makes dramatic rate cut - EurActiv.comLONDON/TOKYO (Reuters) - Sweden cut interest rates by a record 175 basis points on Thursday, prompting speculation of dramatic cuts elsewhere in Europe to try to stop a global slump spreading faster than policymakers had anticipated. Japanese ...
Closed mines, broken dreams in the town that nickel built - Globe and MailSUDBURY, ONT. — When John Rodriguez became Mayor of Sudbury in November, 2006, things had never looked better for the city whose economic fortunes have always been inextricably linked to the price of nickel. The price of the metal was rocketing to ...
The road still calls to Sally Struthers - Naples Daily NewsWhere: Naples Philharmonic Center for the Arts, 5833 Pelican Bay Blvd. That Sally Struthers has managed to stay at least on the fringes of popular culture for almost 40 years is no small feat. Just when you think she’s gone for good, the diminutive ...
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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