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Kitchen Theatre finds new home on State St. - Ithaca Journal
ITHACA — The Kitchen Theatre, housed since 1994 in the Clinton House, has purchased the building at 417-419 W. State St. and plans to relocate its productions there in 2010. “We found a building that has most of what works for us in terms of size ...

Areas’ employment remains stable - Troy Record
In October, the state lost nearly 14,000 private sector jobs, but the Capital District’s average, not seasonally adjusted, unemployment rate of 4.9 percent was slightly lower than the state’s rate at 5.5 percent and the national rate at 6.5 ...

Cornell group: Affordable housing a sustainability issue - Ithaca Journal
ITHACA — For the cost to build an officially “affordable” house in Tompkins County, an entire village can be raised in Ecuador. The house would cost $140,000, according to the U.S. Department of Housing and Urban Development's standard for ...

A False Fix for the Mortgage Crisis - The Washington Independent.com
As the government, housing advocates and banks like Citigroup and JPMorgan Chase struggle to streamline loan modifications and stave off foreclosures, one tactic keeps coming back to life as a sure-fire weapon: the 90-day mortgage moratorium. In ...

Ulysses proposes tax levy decrease - Ithaca Journal
ULYSSES — Ulysses is aiming for at least a 15 percent tax-levy reduction in 2009 once its budget negotiations are finalized, town board members said. Town Supervisor Douglas Austic said his preliminary budget proposal, which he presented to the ...

Reverse mortgage can ease financial burden - MLive.com
Heightened medical costs and increased living expenses can add up to a tight financial situation for anybody. This budget strain can hit senior citizens even harder, especially those without a source of income and who rely heavily on Social Security ...

William Smith - Newsday
Marsha Trout wouldn't take no for an answer from her bank. And you don't have to either. Bank disputes are frustrating for consumers because they're most always about money. And with banks gobbling each other up these days, customers may feel ...

Company Hosts Job Fair For Laid Off Workers (VIDEO) - NewsChannel 36
ITHACA -- The unemployment rate hit a 14-year-high last month. Ten million Americans are now without a job, including hundreds of thousands of newly unemployed New Yorkers. More than 230 of those workers used to work at Borg Warner's Ithaca and ...

Stephen Ashley ’62 Talks Fannie Mae, Capital Campaign - Cornell Daily Sun
With the Board of Trustees convening in Ithaca this weekend for their annual meeting, The Sun sat down with Stephen Ashley ’62, MBA ’64 to discuss his role as co-chair of the $4 billion capital campaign. Ashley is currently the chairman and CEO ...

The transcript follows. - Washington Post
Eugene Robinson: Hello, everybody, and welcome to our weekly free-for-all. Tomorrow we'll have the last presidential debate. If I were Bob Schieffer, I might ask "at this point, why would either of you want to be president?" The winner will have to ...

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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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