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Habitat for Humanity of Elkhart County - Elkhart TruthHabitat for Humanity of Elkhart County partners with families who meet our requirements of income and family size who commit to invest “sweat equity” hours on the construction of their home and those of others, who agree to participate in our ...
Economists say state's economic pain will last - Indianapolis StarTwo years ago, Mike Mowrey was pulling down $30 an hour as a model maker at Guide Corp. in Anderson -- enough to support his wife and two children and pay the mortgage on his Madison County house. But when the auto-parts maker, a former General ...
Town shows economic woes weighing on election - Boston GlobeWAKARUSA, Ind.— In this corner of America known as the RV capital of the world, Todd Brink once made a good living producing the gleaming behemoths that cruised the nation's open roads. He was prospering. So, too, was the industry. Then hard times ...
Barack Obama wins race for White House - WNDUSenator Barack Obama will be the next president in the White House with Vice President Joe Biden. As the clock struck 11 PM Eastern, the polls for parts of the West Coast closed and Barack Obama was projected to eclipse the 270 electoral votes needed ...
Today's Mortgage Terms starting with D
Default: Failure to fulfill legal obligations of a contract, including failure to make payments on a loan.
Discounted Loan: When the note rate on a loan is lower than the market rate, it is a discounted loan.
Discount Point: A point paid to the lender to permanently lower or acquire down an interest rate. Money must be paid up front to lower the rate.
Down Payment: The amount of cash you must pay down initially for the purchase of your home. For conventional loans, you should aim for a down payment that's at least 20% of your home's value. The reason is lenders generally do not require private mortgage insurance with a down payment of at least 20% of your home's purchase price.
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