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News about Mortgages:
Lenders' right to foreclose is challenged - Boston GlobeA pair of out-of-state mortgage firms lacks the legal authority to press forward with home foreclosures in Massachusetts because they haven't obtained required documents verifying that they hold the mortgages, a lawsuit lodged yesterday alleged. The ...
Council on Aging Events - Abington MarinerThe Milano Senior Center is located at 201 West Foster St., Melrose. Hours: Monday-Friday, 8:30 a.m. to 4 p.m. For information, call 781-662-6886. The Council on Aging office is at 235 West Foster St., Melrose. COA hours: Monday through Friday, 8:30 ...
Today's Mortgage Terms starting with J
Jumbo Loan: A mortgage over the $300,700 limit established by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. A jumbo mortgage tend to carry a higher interest rate than a conventional mortgage.
Junior Mortgage: A mortgage subordinate to the claim of a prior lien or mortgage. In the case of a foreclosure, a senior mortgage or lien will be paid down first.
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