Decatur Mortgage Rates and Information Online from competing Lenders

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Financial News
Hazardous to handle - Chicago Tribune
Wall Street's financial maelstrom is threatening some of Chicago's largest companies. They are holding billions of dollars in exotic investments at the heart of the nation's financial crisis—debt tied to housing, student, auto and credit card loans ...

Neighborhood forums will help city council members set priorities - Herald & Review
DECATUR - As part of an effort to follow Decatur City Council members' stated goals of strengthening neighborhoods, city staff members have scheduled forums for citizens to speak directly with council members. The first two meetings, scheduled for 10 ...

Real Estate Sales - Newsday
CarMax Inc. said Wednesday it is laying off 600 employees, or about 4 percent of its total work force, as the auto retailer tries to cut costs due to a decline in car and truck sales. The Richmond, Va.-based company said the reductions are in its ...

2 smaller banks here doing well in chaos - Birmingham News
Amid the daily turmoil in the financial-services industry - who bought whom today? - at least two smaller banks in Huntsville seem to be benefitting from the chaos. Progress Bank and Trust and ServisFirst Bank both announced milestones recently ...

Local bank presidents: ‘We’re still loaning money’ - Martinsville Reporter-Times
Local Morgan County bank presidents say they have had a few phonecalls from customers asking about FDIC insurance and deposits since the United States Senate and House passed the Wall Street bailout plan. But Dan Moore, president of Home Bank, and ...

Banker, broker: Area continues to stay strong - Lincoln Courier
By reading the news and listening to government officials, it’s as if no one has escaped the financial crisis. Bankrupt Lehman Brothers and “troubled” insurer AIG are Illinois’ evidence of how the crisis has affected some of the state’s ...

Schuyler housing problems examined - Star-Gazette
Adequate housing is seriously lacking in Schuyler County, officials say, and a long-anticipated study to determine the extent of the need and how to deal with it is under way. Economic and Policy Resources, located in Williston, Vt., is hoping to ...

Baby boomers delay retirement as assets decline - Arlington Heights Daily Herald
Nancy Davis, a 59-year-old senior marketing manager for a law firm in San Diego, had hoped to ease into her retirement after her son finishes college in two years. But "I may be 70 before I retire at this point," she said Friday, after watching the ...

Please, Mr. Lender, Exploit Me Some More - Reason.com
In last night's vice presidential debate, Sarah Palin attacked "predator lenders," which made it sound like she was opposed to the sharing of lions and tigers among zoos. Judging from the context, I'm pretty sure she meant "predatory lenders ...

Your home: When it's wise to downsize - CNN Money
(Money Magazine) -- Last year Rick and Suzanne Pepin moved from the four-bedroom 3,400-square-foot house in Minneapolis where they lived with their three (now grown) kids to a luxury condo that's a third smaller and offers only a Murphy bed for ...

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Today's Mortgage Terms starting with M

  • Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.
  • Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.
  • Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.
  • Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.
  • Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).
  • Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
  • Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.
  • Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment.
  • Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment.
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