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High earners to pay 45% tax as borrowing soars - Times Online
Top earners face higher taxes as Gordon Brown and Alistair Darling reduce a borrowing bill that will hit nearly £120 billion next year. The Chancellor is expected to announce a new top rate of tax of 45 per cent that will apply to those earning more ...

What the bailout bill could mean for you - Boston Globe
The recently passed Emergency Economic Stabilization Act of 2008 (or, as it is more commonly known,"The Bailout Bill") is a law authorizing the Secretary of the Treasury to spend $700B to purchase distressed assets from the nation's banks. The Act ...

Compelling course at gym - Boston Globe
Bret Bondlow is hoping a course he is offering at his Hanover business, Compelling Fitness, will offer new help to autistic children and adults, and anyone with special needs. The business opened last December, and shortly thereafter, Bondlow, a ...

Lord Mandelson will force banks to open their coffers - Times Online
Banks face legal action if they refuse to resume lending amid dire warnings of a mortgage drought that will bring further misery to homeowners. The Times has learnt that legal curbs will be imposed on banks if they fail to abide by a new code of ...

Housing slump could be over next year, MPs hear - Times Online
The housing market slump could be over as soon as next year if the cost of home loans falls by a further half-point, a leading housing market expert told MPs yesterday. David Miles, chief UK economist at Morgan Stanley, said that if mortgage rates ...

Local family moves into Habitat for Humanity home in Quincy - Patriot Ledger
New Habitat for Humanity homeowner Nancy Abrahams of Quincy, second from right, at the closing on her house in Quincy. With here are, from left, South Shore Habitat board President Chris Dunn, Abraham's cousin Jocelyn Aurelien, and Habitat board ...

Councils in Iceland crash will lose £60m interest - The Independent
Labour 'broke' the economy, says Cameron Today in Politics: Cameron ends the truce James Daley: A volatile time for our pensions – but this is not the time to panic London shares climbing again French bank loses €600m in 'market incident' Dominic ...

Daily Digest - iBerkshires.com
North Adams – Gwenn Bishop has been appointed to the position of Retail Lending Officer for Hoosac Bank and Williamstown Savings Bank, according to an announcement by Maureen Baran, Senior Vice President for Business and Retail Lending. Hoosac Bank ...

Town Commons: What's happening on the South Shore Nov. 6-14, 2008 - Abington Mariner
The Full Gospel Business Men’s Fellowship International [FGBMFI] will be hosting their 31st Northern New England Convention at the Clarion Nantasket Beach Resort Hotel in Hull, Mass. Nov. 6-8. The Convention meetings are open to men, women and ...

Ready to breeze to re-election, Lynch, Delahunt discuss goals - Patriot Ledger
Stephen Lynch and William Delahunt were pretty popular back home after voting against the $700 billion Wall Street bailout package, which they called a raw deal for Main Street. It also doesn’t hurt that both congressmen are unopposed for re ...

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Today's Mortgage Terms starting with L

  • Lender: The bank, mortgage company or mortgage broker providing the loan.
  • Loan Application: A statement of personal and financial information needed to apply for a loan.
  • Loan Application Fee: A fee applied by a lender to cover the initial costs of putting through a loan application. The fee could include the cost of getting a property appraisal, a credit report and a lock-in fee and other closing costs incurred to complete the transaction.
  • Loan Origination Fee: Fee charged by a lender for the administrative costs of processing a loan.
  • Loan to Value Ratio (LTV): The balance of the mortgage outstanding as a percentage of the home's price.
  • Lock or Lock In: A lender's guarantee of an interest rate for a specific period of time. The time period is usually between the loan application approval and loan closing. The borrower wants the lock to stay in effect until closing.
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