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Local Elections - Orlando SentinelA resolution setting dates for a special mayoral election to fill Kwame Kilpatrick's remaining term is being prepared by the Detroit City Council. City Clerk Janice Winfrey says the council could approve the resolution on Tuesday. The primary would ...
Web Links - WFTVWeek of August 25 Water Alerts, Notices From State of Florida Central Florida Flood Zones Brevard County Supervisor Of Elections Website Seminole County Supervisor Of Elections Website Volusia County Department Of Elections Website Week of August 18 ...

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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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