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News about Mortgages:
Housing crisis creates opportunities - TelegraphAfter a significant slump in 2008, the home mortgage business appears to be entering 2009 on an upswing. Area mortgage specialists reported business concluding 2008 on the rise with no forecast of loan or refinancing inquiries slowing as 2009 begins ...
Buy and rent boss ‘villain of year’ - Reading Evening PostA Reading businessman has been awarded the dubious title villain of the year by the Daily Mirror. Philip Hope of Home Assured Limited gained the award for the scheme which has left many people across the UK without a home. His company, based in ...
Chancellor Alistair Darling on brink of second bailout for banks - Times OnlineAlistair Darling has been forced to consider a second bailout for banks as the lending drought worsens. The Chancellor will decide within weeks whether to pump billions more into the economy as evidence mounts that the £37 billion part ...
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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