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News about Mortgages:
Troubles spread to prime Md. mortgages - Baltimore SunThe share of Maryland homeowners behind on their prime mortgages shot past 4 percent for the first time this spring, a sign that loan troubles are spreading beyond borrowers with shaky credit. More than 36,000 prime loans in Maryland were delinquent ...
Dow gains 32 points despite poor employment, foreclosure reports - Los Angeles TimesWall Street breathed a sigh of relief Friday as most stocks rose in the face of a lousy August employment report and dismal mortgage foreclosure data. After falling 150 points in the first two hours of the session, the Dow Jones industrial average ...
American consumers tighten up spending - Des Moines RegisterMore Americans continue to cut spending as a result of tougher economic conditions - and those choices are creating a series of ripples for retailers and businesses in the dining and entertainment sectors. A new national survey of workers across the ...
Unemployment and mortgage delinquencies soar and could get worse - Santa Cruz SentinelThe nation's unemployment number jumped to a five-year high Friday as mortgage delinquencies rose, stoking fears that America's slumping economy could get much worse before it gets better. The Labor Department reported unemployment soaring from 5.7 ...
Canadians support government's handling of economy: Flaherty - Globe and MailDavid Hogg from Victoria, Canada writes: Mr. Flaherty and his cabinet colleagues are economic heroes and legends in their own tiny little minds. The biggest difference in the US economy and ours is reflected in the mortgage market and housing market ...
Stocks Edge Off Session Lows - Street.ComUpdated from 10:59 a.m. EDT Stocks in New York traded off their lows but remained in negative territory Friday as the government's read on unemployment jumped for August, renewing investor concerns about a U.S. recession. A decline in oil prices and ...
Stocks Fight Their Way Back Up - Street.ComUpdated from 1:09 p.m. EDT Blue-chip stocks in New York finished a day of uneasy, hesitant trading with slight gains Friday after the government's read on unemployment jumped for August, renewing investor concerns about a U.S. recession. Technology ...
The Fine Print - Marion Chronicle-TribuneCircle K 2220 , 863 S. Main St., Upland, Aug. 18, routine; 1C, 6NC, 1R; NC, the lights in the Noble Roman’s display case are not shatter resistant or plastic covered, five days; NC, employees personal drinks not stored properly in designated areas ...
McCain's Annoying Little Fraud - Slate( Pierre, S.D .) McCain would like everyone to think his campaign imploded last summer because of his courageous support for the surge in Iraq : I fought for the right strategy and more troops in Iraq, when it wasn't a popular thing to do. And when ...
Sunday Q&A: Director provides the 411 on 211 help line - Houston ChronicleDavid Jobe, the director of the 211 Texas United Way Helpline in Houston, says his team works to dispel rumors. During Gustav a rumor had I-10 being closed at the Louisiana border. The Federal Communications Commission made 211 the nationwide dialing ...

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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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