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Canadians support government's handling of economy: Flaherty - Globe and Mail
David 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 ...

U.S. jobless rate tops 6% for first time in five years - Baltimore Sun
WASHINGTON - The nation's unemployment rate bolted above the psychologically important 6 percent level last month for the first time in five years - and it's likely to go even higher in the months ahead, possibly throwing the economy into a tailspin ...

Unemployment climbs to 5-year high of 6.1 percent - Forbes
The nation's unemployment rate bolted above the psychologically important 6 percent level last month for the first time in five years - and it's likely to go even higher in the months ahead, possibly throwing the economy into a tailspin as Americans ...

Record 9% of homeowners with mortgages are struggling - San Gabriel Valley Tribune
WASHINGTON - The source of trouble in the mortgage market has shifted from subprime loans made to borrowers with bad credit to homeowners who had solid credit but took out exotic loans with ballooning monthly payments. The Mortgage Bankers ...

Unemployment climbs past 6 percent for 1st time in 5 years, raising ... - Baltimore Sun
WASHINGTON (AP) _ The nation's unemployment rate bolted above the psychologically important 6 percent level last month for the first time in five years — and it's likely to go even higher in the months ahead, possibly throwing the economy into a ...

Jobless rate hits 5-year high - Gainesville Sun
WASHINGTON — The nation’s unemployment rate bolted above the psychologically important 6 percent level last month for the first time in five years — and it’s likely to go even higher in the months ahead, possibly throwing the economy into a ...

Chamber’s goal: promote town, area - Hammonton Gazette
HAMMONTON—The Greater Hammonton Chamber of Commerce is a non-profit entity designed to advance the civic, commercial, cultural, economic, professional, agricultural, and industrial interests of the people of the town of Hammonton and the greater ...

Unemployment Hits Five Year High - KNx 1070
WASHINGTON (AP)-- The nation's unemployment rate bolted above the psychologically important 6 percent level last month for the first time in five years — and it's likely to go even higher in the months ahead, possibly throwing the economy into a ...

Three insurance bosses are banned - BBC News
The Financial Services Authority (FSA) banned three directors of BPS Insure after the trio failed to inform the FSA of a £3m client account deficit. The city regulator said Robert James, Stuart Lawton and Paul Adams used client money at the start of ...

McCain Woos the Undecided - MSN MoneyCentral
Well, it didn't have quite as many fireworks as Senator Barack Obama's performance in Denver last week -- either the real kind or the rhetorical kind. And it lacked the dramatic tension of the national debut of Republican Vice-Presidential nominee ...

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Carbon Corning Nodaway Prescott

Today's Mortgage Terms starting with F

  • Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
  • Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.
  • Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
  • FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.
  • First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
  • Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.
  • Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.
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