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Register for FREE - Wall Street JournalPlease register to gain free access to WSJ tools. An account already exists for the email address entered. Across America, there was jubilation and dancing in the streets. We have a new prophet. We are set free and ready to follow. But soon enough we ...
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Home Buyers, Sellers Worried By Credit Crunch - WNEP-TV 16The possibility that mortgages might be more difficult to get worries one couple from Pittston who wants to buy a home. Marie and Joe Limongelli of Pittston are newlyweds, looking to buy their first house. They toured a nearly $90,000 property on ...
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Would-be homebuyers find themselves in ownership limbo - Riverside Press EnterpriseWhen Ryan Zimmermann last month arrived for a walk-through of the four-bedroom Corona house he had just bought at a bank auction, he got a big surprise. Someone else had moved in. Unable to close escrow on his $483,000 purchase, Zimmermann is living ...
President-elect Obama: 'Change has come to America' - Eagle-TribuneSen. Barack Obama's had three simple yet profound words to sum up one of the most exhausting and exhilarating presidential campaigns in American history. "Yes we can." Obama will be sworn in as the nation's first black president on Jan. 20 ...
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Today's Mortgage Terms starting with P
Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
Principal: It is the amount of money borrowed or owed, excluding interest.
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