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News about Mortgages:
Illinois: Blagojevich allies a vanishing breed - Dubuque Telegraph HeraldSPRINGFIELD, Ill. (AP) -- Illinois Gov. Rod Blagojevich doesn't have many friends these days, particularly among the lawmakers who will decide whether to throw him out of office. The vote to begin impeachment proceedings was unanimous. Former allies ...
Local Real Estate Agent Helps Greenleaf Victims - KSPR.comDozens of Ozarkers were left homeless after the houses they never really owned were foreclosed on. The catch is these people say they made every mortgage payment. The homes were bought through The Real Estate Company and its sister private lender ...
Partnership mortgages - Worcester Telegram & GazetteWORCESTER — Living in a small apartment in Clinton with a baby on the way, Arlin N. and Abel N. Herrera knew they wanted to move soon. The couple had thought about buying a home, but assumed it would be years away while they saved their money. But ...
Champaign County to cut aid to families - Springfield News SunURBANA — As massive state deficits are passed on to county agencies, Champaign County's Department of Job and Family Services will cut assistance it provides to some residents beginning this year. Effective Jan. 1, the agency made several changes ...
Ill. mother wins suit over son's prison killing - Buffalo NewsA judge has ordered an Illinois prison inmate who killed his cellmate - after allegedly warning guards he would harm the man - to pay $13 million to the dead inmate's estate and his mother. U.S. Magistrate Judge Byron Cudmore issued the default ...
Make this your seat - Crain's Chicago BusinessFor the unemployed professional, or one worried about becoming unemployed, the latest economic news isn't encouraging. Companies are laying off thousands of workers, at all levels of skill and experience. But even recessionary economies have job ...
Deadline nears for home tax savings - Oakland PressLocal assessors are trying to spread the word that a money-saving deadline is swiftly approaching. “It’s a good program, and it was intended for people who have bought a new home in Michigan but can’t sell their old home,” said Bev Shaver ...
Shenango Valley Mall in receivership after defaulting on loans - Sharon HeraldUnder a court order issued Monday, the Shenango Valley Mall is now in receivership. Mercer County Common Pleas Judge Christopher St. John approved the appointment of a receiver at the request of the mall’s lenders. Appointment of a receiver, which ...
Suffolk clerk postpones Richard Vitale arraignment - Boston HeraldA clerk delayed the arraignment of House Speaker Sal DiMasi’s accountant Richard Vitale this morning, and, in a highly unusual move, declined to accept a detailed description of the case. The description has even more information about the ticket ...
State government grinds to standstill - Chicago TribuneThe governor was arrested by the FBI and faces impeachment proceedings, his appointee to a U.S. Senate seat is in limbo and the state treasury is in shambles—a combination that has turned Illinois into a national punch line. But who's laughing ...
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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