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News about Mortgages:
Prosecutor: Delray Beach man responsible for $5 million mortgage scam - Palm Beach PostHoward Gaines, 57, smoothed the way for a Coral Springs con man to use straw buyers and forged documents to purchase dozens of Broward County properties, prosecutor Jeffrey Kay said in opening statements. That man, Anthony Dehaney, 57, pleaded guilty ...
Delray man's fraud trial begins in U.S. court - Palm Beach PostFORT LAUDERDALE — A Delray Beach man accused of mortgage fraud used his position as a real estate closing agent to help others land more than $5 million in fraudulent loans, a federal prosecutor told jurors. Howard Gaines, 57, smoothed the way for ...
Foreclosure moratorium bill at a standstill in Assembly - Riverside Press EnterpriseLegislation proposed last week by Assembly Democrats to pressure lenders to help struggling borrowers stay in their homes will not happen this month, and possibly not until the new year. The bill was prompted by concern about the high number of ...
Home sales fall 25 percent, but median price rises - Austin American-StatesmanDefying the national trend, the median price of existing homes in Central Texas rose last month by 7 percent, new figures show. But the U.S. housing and economic downturn still has the region in its grip, as sales fell 25 percent, the steepest ...
March 23 - March 30 - Dakota Voice► January 16 - January 23 (1) Tomorrow is the last lesson of the Truth Project at South Canyon Baptist Church in Rapid City. You can find other Truth Project gatherings going on in the Rapid City area, and in towns across South Dakota. Check with ...
GAINES REACTS TO DEMOCRATS’ FORECLOSURE PLAN - Auburn JournalSACRAMENTO –Assembly Banking and Finance Committee Vice-Chair Ted Gaines, R-Roseville, today issued the following statement in response to the mortgage foreclosure plan unveiled today by Assembly Democrats for consideration in the special ...
John McCain's $300 billion mortgage plan draws mixed reviews - Dallas Morning NewsWASHINGTON – Only six months ago, John McCain advocated "temporary" help for homeowners facing foreclosure while preaching against a "bailout" of irresponsible parties – "whether they are big banks or small borrowers." On Wednesday, he pitched ...
Business News - Corsicana Daily SunThe regular monthly luncheon of the Navarro County Board of Realtors was held at noon Sept. 18 at the Holiday Inn Express in Corsicana. Community National Bank and Trust sponsored the luncheon and Gerry Harris of St. Elmo Country Store catered. Dr ...
Mercer to host forum on the economy - Atlanta Business ChronicleMercer University ’s Eugene W. Stetson School of Business and Economics will hold an economic forum Oct. 21 at 7:30 p.m. The “Global Economic Crisis: Taking Stock” event is free and open to the public. The forum will feature economic experts in ...
Housing Crisis Putting Off First-Time Homebuyers - CNBCWhether you're looking for a point-and-shoot or the top-of-the-crop pro DSLR, click ahead to see which models offer what you're looking for in a new camera. Home owners could count on a fixed mortgage payment rather than rising rent, take advantage ...
Today's Mortgage Terms starting with F
Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.
Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.
First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.
Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.
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