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FEATURE-For many U.S. Christians, it's God before mortgage - ReutersCHICAGO, Sept 21 (Reuters) - For many Americans, a pact with God outweighs any earthly contract, including a mortgage. While millions may lose their homes during the worst housing slump since the Great Depression, some devout Christians among them ...
Some Christians keep tithing even as they face foreclosure - USA TodayI've had home owners who face foreclosure sitting in front of me saying, 'I'll do anything, anything to keep my home," said Ozell Brooklin, director of Acorn Housing in Atlanta, a nonprofit which offers foreclosure counseling. "But after we've gone ...
Households face the unthinkable: budgeting - ReutersATLANTA (Reuters) - After years of living large, U.S. households are finally learning what financial experts thought they never would: to live within their means. Economists have long warned that the U.S. consumer was on an unsustainable spending ...
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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