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News about Mortgages:
A different story on credit this Christmas - Austin American-StatesmanMany indicators are showing it could be. As part of the fallout from the credit crunch that already has hammered the mortgage industry and corporate lending, banks are constricting the credit card offers that retailers can make — right when ...
An artful life leads back to Tomahawk - Lexington Herald-LeaderHome & Gardens #1, a large quilt by Lisa Williamson, hangs in her bedroom in Tomahawk. It was also her childhood bedroom. Her art has taken over the family home: Her sister's old ?bedroom is now a studio, and the dining room is where she frames her ...
Mr. Paulson: No Bailout for Auto Industry - The Epoch TimesIn the past several weeks we have witnessed General Motors Corp. CEO Rick Wagoner—and an entourage of lobbyists—in Washington with hat in hand, pleading federal officials to bail out the struggling automaker. The company reported dismal third ...
Credit crunch may spoil holidays for retailers - Atlanta Journal Constitution• Pay cash. • Use credit cards. You can earn reward points. And if you pay the balance each month, there is no interest charge. • Go layaway. A few retailers -- such as TJ Maxx, Burlington Coat Factory, Kmart and Mori Luggage -- still offer ...
Bidders snap up homes in foreclosure - Atlanta Journal ConstitutionGoing once, going twice, sold! — a four-bedroom, red brick home in Smyrna. “It was just so fast. I guess that wasn’t for me. There were seven or eight of us bidding for that,” said Cher Algarin of Douglasville. She and her husband, Frank ...
Adventrx makes staff cuts to stay afloat - San Diego Union-TribuneAdventrx Pharmaceuticals has restructured, cutting nine jobs, or 27 percent of its work force, to reduce operating costs and leave the San Diego-based company with enough cash to fund operations until mid-2009. The staff cuts, including the chief ...
Beacon Federal Bancorp, Inc. Announces Expected Impairment - MSN MoneyCentralEAST SYRACUSE, N.Y., Oct. 17, 2008 (GLOBE NEWSWIRE) -- Beacon Federal Bancorp, Inc. ("the Company") (Nasdaq:BFED) reported today that it expects to record an impairment charge of $5.4 million on its holdings of Freddie Mac and Fannie Mae perpetual ...
Nouriel Roubini: I fear the worst is yet to come - Times OnlineAs stock markets headed off a cliff again last week, closely followed by currencies, and as meltdown threatened entire countries such as Hungary and Iceland, one voice was in demand above all others to steer us through the gloom: that of Dr Doom. For ...
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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