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News about Mortgages:
Home foreclosures on the rise in Franklin County - Public OpinionMore on the market: Foreclosed homes in Franklin County jumped from 16 last year to 28 today. In more typical economic times, the county has six to seven foreclosures on the market. Home foreclosures are up. The number of properties listed for ...
Empty homes a danger to fire fighters and a nuisance to officials - MetroWest Daily NewsAs the staggering economy leads to more foreclosures, local officials are left to deal with the problem of keeping the empty homes from becoming eyesores and safety hazards. On Labelle Street in Marlborough, the contents of a foreclosed home ...
Gradual decline accelerates into quick shutdown - MSNBCThe end came swiftly, and suddenly, for Franklin Bank Corp. But the downfall slowly took shape more than a year ago when cracks formed in the holding company’s mortgage and loan operations across the country. Former executives in charge of Franklin ...
State Headlines - KCEN TV NBC 6WASHINGTON (AP) - Regulators shut down Houston-based Franklin Bank and Security Pacific Bank in Los Angeles on Friday, bringing the number of failures of federally insured banks this year to 19. The Federal Deposit Insurance Corp. was appointed ...
People in business - Memphis Commercial AppealRalph McNeely has joined Magna Bank’s Quail Hollow office, and Bill Brown has joined Magna Bank’s Bartlett mortgage office. Drew Nadler and Allen Parker , financial advisers with Shoemaker Financial in Franklin, Tenn., have passed their FINRA ...
Foreclosure: Goepfert - Pierce County HeraldClinton Goepfert, Melissa Goepfert and Mortgage Electronic Registration Systems, Inc., acting solely as a nominee for First Franklin Financial Corp., an OP. SUB. of MLB&T CO, FSB, Defendants. PLEASE TAKE NOTICE that by virtue of a judgment of ...
Stop low-cost housing drain - Detroit Free PressAddressing Congress nearly 75 years ago, President Franklin D. Roosevelt called adequate housing a right of every American family willing to work. Fifteen years later, the Housing Act of 1949 set national goals that included "a decent home and a ...
Bocce courts beckon workers - Nashville TennesseanFRANKLIN — It's a bit of an unusual site for a commercial center, or even a park for that matter. Surrounded by the restaurants, offices and shops at the growing Meridian Cool Springs development off Carothers Parkway are a pair of bocce courts ...
Haverhill woman's tale of housing woe offers view into global ... - Eagle-TribuneMarie Martinez rode the real estate wave for a decade, buying property worth, on paper, more than $1 million. Then she hit the rocks and lost everything. Martinez's story mirrors those of millions of Americans caught up in the real estate frenzy that ...
Our view: No victims here but the taxpayers - Eagle-TribuneIt is interesting to see and hear readers' comments on our Sunday story concerning a Haverhill woman and the worldwide financial crisis triggered by failed mortgages. Some readers posting on our Web site and others calling our office questioned ...
Today's Mortgage Terms starting with M
Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.
Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.
Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.
Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.
Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).
Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.
Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment.
Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment.
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