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News about Mortgages:
Downey, Community National Face Wrath of Regulators (Update1) - BloombergNov. 13 (Bloomberg) -- Downey Financial Corp. was told by U.S. regulators to raise capital by year-end or face seizure. GMAC Bank can't install an ATM on property controlled by its biggest owner without getting federal permission. Community National ...
When you owe more than home is worth - Arizona Daily StarOne in four Tucson homeowners who bought during the last five years now owe more on their mortgages than their homes are worth, a troubling sign for the Old Pueblo's declining housing market and broader economy. A large chunk of those homeowners who ...
Once among nation's tops in appreciation, Utah home prices tumble - Salt Lake TribuneUtah, which just two years ago had among the highest rates of housing appreciation in the country, has joined much of the rest of the nation struggling with the problem of falling home prices, a report released Tuesday shows. The state had a 1.6 ...
Today's Mortgage Terms starting with E
Equity: The difference between the current market value of a property and the total debt outstanding against the property.
Escrow: A transaction in which a third party represents both the buyer and seller, or for borrower and lender, involving the handling of legal documents and disbursement of funds. In some parts of the US, escrow of taxes and insurance premiums are referred to as impound or reserves.
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