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News about Mortgages:
Housing slump fails to spark soaring rents - Baltimore SunG ood news, apartment hunters: The slump in home sales and rise in foreclosures haven't meant skyrocketing rents. Many landlords are increasing monthly rental costs more slowly than usual. Average rents rose 2 percent in the Baltimore metro area from ...
Borrowers may be paying €37k too much - IndependentShare PEOPLE who fail to get the best deal on their mortgage could end up shelling out €37,000 more than they need to over the life of the loan, research carried out by Simply Mortgages has found. This is particularly the case if people are on ...
Updated 9/5: Suburboddity - Evanston ReviewDogging the crossing guard in Des Plaines, a mass dog wedding in Oak Park, first losing your Pumpkin and then your Chihuahua in Des Plaines -- read news of the odd, unusual and sometimes weird, from around Chicago. Sic way to treat a crossing guard ...
Housing Video Gallery - CNBCU.S. home foreclosures and the rate of homes entering the foreclosure process rose to record highs in the fourth quarter, led by failing subprime loans, the Mortgage Bankers Association said. The rate of failing loans swelled across most mortgage ...
US Home Foreclosures Reach Record High - CNBCAs homebuilders continue to report heavy losses, some investors think now may be the time to get in. CNBC's Diana Olick has the latest. Day to day the news is still bad. Lousy earnings today from Toll Brothers after lousy earnings from Hovnanian ...
Bank of America Corp. - Chicago TribuneLender GMAC Financial Services said Wednesday that it will close all of its 200 retail offices and eliminate about 5,000 jobs as part of a plan to reduce its mortgage lending and servicing because of the housing market downturn. The majority of the ...
GMAC to slash its work force - Morning CallLender GMAC Financial Services said Wednesday it will close all of its 200 retail offices and lay off about 5,000 employees as part of plan to reduce its mortgage lending and servicing because of the housing market downturn. The majority of the ...
Wall Street bummer - Hartford CourantWall Street plunged Thursday, sending the Dow Jones industrials down more than 340 points as retailers and the Labor Department added to the mountain of dismal economic news that has all but dashed investors' hopes for a late-year recovery. The ...
A credit trap for consumers - Baltimore SunSusan Crandall thought she had stellar credit, until computers at one of the nation's powerful credit reporting agencies decided she had serious money troubles. Crandall lived 50 miles from a woman who had filed for bankruptcy. They had similar names ...
August 2008 - Willdo.philadelphiaweekly.comIt's the end of the week, so here's a flurry of LA-related links (because that's where I live, so it's all I care about, suckers). - The California State Legislature just approved a bill that will ban electronic Bingo . This will probably decrease ...

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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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