Rush Mortgage Rates and Information Online from competing Lenders

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Financial News
Northern Rock withdraws some savings products following "rush" - Monsters and Critics
London - Nationalized British mortgage lender Northern Rock Thursday withdrew some of its savings products for new clients following a consumer rush on safe placings for their deposits, the bank said. The measure was aimed at preventing having an ...

Will Detroit's Big 3 survive chaos? - Detroit News
It's comforting to know Dick Fuld, CEO of bankrupt Lehman Brothers Holdings Inc., wants Congress to know he and his cohorts were mistaken about the weakness of the mortgage markets and how quickly things could go bad. It's also rich to hear this ...

Three European countries rush to save Dexia bank - Xinhua News Agency
BRUSSELS, Sept. 30 (Xinhua) -- Belgium, France and Luxembourg rushed on Tuesday to provide nearly 6.4 billion euros (9.2 billion U.S. dollars) to save Franco-Belgian bank Dexia, the latest victim of the global credit crunch in Europe. Belgian Prime ...

Is now a good time to panic? - Baltimore Sun
If you're at the point where you aren't sure you can take any more of this, you have plenty of company. Worldwide. One year into this stock market slide, we've reached a new level of despair. Many investors now have lost about a third of their stock ...

Why this slump will be 'long and deep' - Globe and Mail
A global recession may be near, but the global bear market has already arrived, and my, what teeth it has. After yet another Monday horror show – the fourth in a row in which the Dow Jones industrial average dropped at least 300 points – every ...

Rock pulls savings offers amid flight to safety - Financial Times
Northern Rock, the mortgage bank which was taken into state ownership in February, said on Thursday it had withdrawn several of its savings offers after a rush of customers wanted to invest in them. The move follows a “flight to safety” by savers ...

OxyContin soup for the conservative soul - Guardian Unlimited
In my Philadelphia home the radio is perma-tuned to National Public Radio - the subsidised network whose gently burbling collegiate conservatism is all but indistinguishable from the BBC World Service. But now and then - when NPR's touchy-feely ...

Solving the financial crisis – First do no harm - Elk Grove Citizen
The current rush to provide a massive bailout for large financial institutions that engaged in unsound business practices during the sub-prime mortgage frenzy is reminiscent of the rush into the abyss which followed the Sept. 11 terrorist attacks. It ...

Mortgage changes mean equity is key - Rockford Register-Star
Stan Meltzer, a 22-year-old Winnebago County sheriff’s deputy, wasn’t in a rush to buy a house. He was making a good living as a deputy and saving tons of money living with his father. But he started the search after talking to Shane Hartje, CEO ...

Would there be rush to help ordinary Americans? - Times West Virginian
FAIRMONT — If the shoe were on the other foot, President Bush and Congress wouldn’t be rushing to bail out Main Street firms and ordinary Americans, say some Marion County residents. That was one of the dominant responses in a man-on-the-street ...

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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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