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Bankruptcies up amid downturn - GazetteIn 2006, Caruso Homes was riding the national housing wave. The Crofton home builder racked up $161 million in revenue, ranking among the nation's 200 largest by Professional Builder Magazine. That same year, Caruso was named America's Best Builder ...
FHA Cash Cushion Has Fallen by 39% - Wall Street JournalThe latest annual audit of the Federal Housing Administration shows a steep drop in the capital cushion the U.S. agency holds against losses from mortgage defaults. As lenders shy away from risk, the number of loans insured by the agency has soared ...
Home Value Highwire - WTOP RadioWASHINGTON - If you want to buy in today's housing market, you may not be able to seal the deal or get a loan, unless you have cash and good credit. You need cash to close the deal. The days of zero-down are gone. That's the new reality of the ...
Record Numbers Flock to Food Banks - ABC NewsAnd with more and more people unable to make ends meet, food banks like Manna Foods Center in Rockville, Md., have never been so busy. The Montgomery County food pantry provides local families with nutritious staples for the dinner table. Last month ...
Housing Slump Threatens Jobs - US News and World ReportTightening. That process is already underway in other housing-related jobs, such as mortgage lending, title services, and appraisals. With the refinancing boom played out and mortgage applications near a four-year low, lenders like Washington Mutual ...
Lenders push appraisers for fresher comps - San Francisco GateSunday, November 9, 2008 But in soft and declining markets, lenders recently have begun making comps a big deal. Some sellers are being forced to renegotiate lower prices with buyers, even after they've got a signed contract. Rather than accepting ...
Comps playing bigger role for lenders - Miami HeraldHow fresh are your ''comps'' -- the comparable sales of properties used as benchmarks in home real estate appraisals? Buyers and sellers rarely had to be concerned about such a question -- or even understand it -- when values were on the upswing. But ...
Lenders demand freshest comps to support appraisals - St. Petersburg TimesWASHINGTON — How fresh are your "comps" — the comparable sales of properties used as benchmarks in home real estate appraisals? Buyers and sellers rarely had to be concerned about such a question, or even understand it, when values were on the ...
Comps are a bigger deal in a declining market - Baltimore SunH ow fresh are your "comps" - the comparable sales of properties used as benchmarks in home real estate appraisals? Buyers and sellers rarely had to be concerned about such a question - or even understand it - when values were on the upswing. But in ...
Lenders push for fresher 'comps' in home valuations - Los Angeles TimesReporting from Washington -- How fresh are your "comps" -- the comparable sales of properties used as benchmarks in home real estate appraisals? Buyers and sellers rarely had to be concerned about such a question -- or even understand it -- when ...
Today's Mortgage Terms starting with S
Second Mortgage: An additional mortgage that has rights that are secondary to the first mortgage.
Seller’s Market: Market conditions that are favorable to sellers. There are more buyers than properties available for sale. The buyers may be forced to compete and pay more for the same property.
Settlement Costs: Money paid by the borrowers and sellers to complete the closing of a mortgage.
Settlement Cost (HUD Guide): HUD publishes a booklet that gives an overview of the lending process and is given to consumers after completing their loan application.
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