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News about Mortgages:
GAZETTE INVESTIGATION: Buyer, seller say they made post-sale deals to ... - Kalamazoo GazetteKALAMAZOO -- Every time Kalamazoo landlord Ray Williams sold a house to Larry Rask, Williams said he would write Rask a check for $5,000 to $10,000 after the two men had closed on the sale. Both men say this exchange of money after closings on 13 ...
More home deals closing with cash - Herald TribuneAs the tight credit market continues, many potential home buyers are struggling to get financing as banks have gone ultra-conservative. The loose lending of the boom years has given way to an environment where even well-qualified borrowers face heavy ...
Economists React: Housing Decline Is ‘Step Toward Bottom’ - Wall Street JournalEconomists and others weigh in on the larger-than-expected drop in housing starts . Somehow it seems almost fitting that, in the midst of the ongoing turmoil in the financial markets, today we go back to where it all began — the housing market. And ...
Economists Back Government Moves - Wall Street JournalAs the government’s efforts to save the financial system from impending ruin reached a high-water mark Friday, economists took a step back and offered tentative assessments of the Federal Reserve ’s conduct through this year-long crisis. By and ...
Man shot by police is schizophrenic, mother says - Rocky Mountain NewsSurrounded by friends and family Dawn North, mother of the young man shot by a Grand County Sheriff's Deputy on Monday evening, talks on her cell phone after coming out of St. Anthony Central Hospital with her daughter Dawnette, 17, in Denver Tuesday ...

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Today's Mortgage Terms starting with L
Lender: The bank, mortgage company or mortgage broker providing the loan.
Loan Application: A statement of personal and financial information needed to apply for a loan.
Loan Application Fee: A fee applied by a lender to cover the initial costs of putting through a loan application. The fee could include the cost of getting a property appraisal, a credit report and a lock-in fee and other closing costs incurred to complete the transaction.
Loan Origination Fee: Fee charged by a lender for the administrative costs of processing a loan.
Loan to Value Ratio (LTV): The balance of the mortgage outstanding as a percentage of the home's price.
Lock or Lock In: A lender's guarantee of an interest rate for a specific period of time. The time period is usually between the loan application approval and loan closing. The borrower wants the lock to stay in effect until closing.
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