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News about Mortgages:
Only One Person Knows a Home's Value: Its Buyer - Wall Street JournalThe good news is your home may be worth more than the rock-bottom price that your neighbors' houses fetched. The bad news: No one but you might think so. The one point of widespread agreement in the real-estate industry is that there is no single ...
The Bank of Uncle Sam? - Seekingalpha.comAs I sat in front of the TV Wednesay listening to Hank Paulson speak about banks and their needs to start up lending to individuals again, I wonder if a society like the US, which is so debt driven, is going to need to fall back on direct lending ...
Do-It-Yourself Mortgages - US News and World ReportBy age 30, Seattle-based freelance writer Jane Hodges was ready to buy a home. But because she was self-employed, she learned that she needed at least two full years of self-employment before lenders would consider her for a mortgage. Writer Jane ...
Lobbying World - Thehill.com• Michael A. Shupp has joined Van Scoyoc Associates . Shupp is a retired Marine colonel and was former chief legislative adviser to the chairman of the Joint Chiefs of Staff. Shupp commanded the main effort in the Battle of Fallujah and also was ...
Let's Talk About Life Sciences in Indiana - Inside Indiana BusinessBill Weldon, CEO of Johnson & Johnson, looked over his expansive boardroom table and asked Indiana's new governor, "So what differentiates your state from the others?" It was an appropriate question given the purpose of the governor's visit was to ...
How is NZ tourism coping with the financial crisis? - ScoopWe have always been a country full of bright ideas. Now our young designers are putting the future on display at Design exposure 2008. More black clouds are hanging over the Australian economy with their reserve bank slashing its economic growth ...
Martin and St. Lucie counties public records: Nov. 3 - Fort Pierce Tribune•Catherine A. Witkowski v. State Farm Mutual Automobile, Mireya M. Cora, Diego Cora. •Joseph Smith v. Charles Klare. •Daniel K. Smith v. Nancy Seiboth Hinterleiter. •Coastline Landscape & Maintenance v. Rolf S. Gunther Jr. •Chase Bank v ...
City Beat - Free Lance-StarThe number of foreign-born people in the Fredericksburg area--and Virginia--has skyrocketed. Until 1970, one in every 100 Virginians was born in another country. In 2006, it was one in 10. Their birth countries also have changed. In 1900, nine of 10 ...
Kelowna condo project hit by financing crisis - Calgary HeraldTwo Calgary real estate firms are at the centre of a half-completed $30-million Kelowna condo project that became a victim of the spreading credit crunch, after construction activity was halted Wednesday when bank financing dried up. The 21-storey ...
Three congressmen defend seats - Daily Local NewsThree congressmen who serve in parts of Chester County defended their seats in the 6th, 7th and 16th Districts in Tuesday's election. 6th District Democrat Bob Roggio challenged Republican incumbent Jim Gerlach in the 6th District of the U.S. House ...
Today's Mortgage Terms starting with P
Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
Principal: It is the amount of money borrowed or owed, excluding interest.
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