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Who will fill gap in foreclosure help? - Santa Cruz Sentinel
A new Web site created by the State Bar Association to help people facing foreclosure sounded promising. But after seeing what's available for local residents, I was disappointed. There's plenty of free information, but good luck finding free legal ...

Restauranteur Dave Eide looks back on 40 years - Trentonian
At a time when many in the restaurant business are grappling hard just to stay afloat, Sticky Wicket owner Dave Eide is grateful for his long years of serving an appreciative and steadfastly loyal clientele. “Customer support is what keeps my ...

School for the blind starts visionary newsroom - Newark Star-Ledger
Ed Murray/The Star-Ledger Judy Ortman, interim executive director of the Concordia Learning Center, is interviewed by student Indigo Estevez from Newark for the school paper. There's a buzz in the newsroom of a New Jersey start-up newspaper, and not ...

Banks defy Brown over new interest rate cut - Times Online
High Street banks have told Alistair Darling they will not pass on any further interest rate cuts to consumers and businesses. The banks have warned the chancellor they are “not charities”. They said they could not afford further to reduce ...

ESCONDIDO: City stepping up campaign against foreclosures - North County Times
ESCONDIDO ---- With more foreclosed homes falling into disrepair across Escondido, city officials said Wednesday they have formed a task force to combat the problem and have asked real estate agents and neighborhood groups for help identifying such ...

Doubts raised on governor's foreclosure relief proposal - Santa Cruz Sentinel
The governor's proposals for foreclosure relief may help some homeowners, but three local foreclosure experts say many borrowers are over their heads in debt and unlikely to benefit. Loan defaults and foreclosures are double what they were last year ...

Off Main Street: A burning Bills fan - Buffalo News
Forbes magazine claims the Bills are likely to leave town. The Wall Street Journal says our fans are too rowdy. How about some comments about our team from someone who actually knows sports? Talker Jim Rome heaped praise on Buffalo following an ...

ESCONDIDO: Worsening deficit puts brakes on staffing of new fire ... - North County Times
An Escondido fire captain runs down smoke-filled Lomas Serenas Drive in south Escondido while battling a fire last year. Escondido's plans to add a seventh fire engine to its department have been placed on hold as the city deals with a ballooning ...

Voters decide city's path - Corpus Christi Caller
Voters can pick and choose from the seven proposals. The total $153 million can be covered under the city's current debt tax rate of 19.9 cents per $100 property valuation, city officials have said. CORPUS CHRISTI — Providing smoother, safer roads ...

INDUSTRY NEWS & PEOPLE January 2008 - Business Travel Executive
The Association of Corporate Travel Executives (ACTE) has added two new members to its international team: Ronald Kosmahl, director of global education and research, and Kathleen Brannigan, senior director of global communications. Prior to joining ...

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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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