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Area home sales at 5-year low - Baton Rouge AdvocateBaton Rouge-area home sales dipped 33 percent in August from the year-ago period, while year-to-date figures fell to five-year lows for the second straight month, according to the Greater Baton Rouge Association of Realtors. Local home sales have ...
Meg Farris explains FEMA assistance program - WWL-TVRegister with FEMA. You can call 1-800-621-3362 or register on the Web site – www. fema.gov. They will ask for your property damage, name, address, social security number and then they will get an inspector out to assess your home. If you feel like ...
Disaster food stamp distribution sites opening locally - Daily CometTHIBODAUX – Lafourche, Terrebonne and Assumption Parish residents looking to restock their emptied fridges after Hurricane Gustav knocked out nearly all of the areas' power are eligible for food stamps usable for hot and cold meals. Abby Tabor ...

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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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