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News about Mortgages:
Senate panel narrowly OKs appeals judge - Salt Lake TribuneA Senate committee on Wednesday narrowly recommended 3rd District Judge Robert Hilder for a seat on the Utah Court of Appeals after a second round of questions about his ruling allowing the University of Utah to ban guns on campus. Hilder was ...
Area appliance sales are down but not out - Louisville Courier-JournalJoseph Dumstorf, owner of The Trend Companies of Kentucky, a regional appliance supplier, said customers would simply fold the added expense into their mortgage. Now the same homebuyer who gets $2,500 from the seller for appliances "will spend $2,499 ...
Senators give Hilder split vote for Court of Appeals seat - Salt Lake TribuneUpdated: 1:36 PM- Following a second grueling day of testimony and questioning, a senate committee on Wednesday narrowly recommended 3rd District Judge Robert Hilder for an open seat on the Utah Court of Appeals. Hilder passed out of the Judicial ...
Web Exclusive: Economic Crisis part 2 - ksl.com(KSL News) This week has seen the stock market on a volatile roller coaster ride. The Dow dropped more than 500 points yesterday, and today it was up 172. Consumer spending is down, the housing market is still a mess and many wonder what the $700 ...
Viewer Stories: Living Paycheck To Paycheck - WSB-TV AtlantaThe economy has caused my employer to cut me to a 3/4 worker, cutting my wages but still putting me above the line to qualify for underemployment. I've spent months searching for a new job without luck. I refuse to look beyond the tri-city area ...
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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