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GAZETTE INVESTIGATION: Buyer, seller say they made post-sale deals to ... - Kalamazoo GazetteKALAMAZOO -- Every time Kalamazoo landlord Ray Williams sold a house to Larry Rask, Williams said he would write Rask a check for $5,000 to $10,000 after the two men had closed on the sale. Both men say this exchange of money after closings on 13 ...
Officials:Foreclosure offers need checking - Grand Rapids PressKALAMAZOO -- Homeowners facing foreclosure are being targeted by individuals offering to help them reduce their mortgage payments. But banking officials and the state Attorney General's Office all say the thousands of dollars charged by ``foreclosure ...
FOREST WHITAKER STUMPS FOR OBAMA IN MI: Actor spoke in Lansing and has ... - EURweb*Oscar winner Forest Whitaker has been on the campaign trail in the battleground state of Michigan to drum up support for Democratic presidential nominee Barack Obama. The actor spoke to African American labor, religious, business and grass roots ...
Michigan business news in brief: Spirit pilots to picket - Detroit Free PressSpirit Airlines pilots planned to picket outside Detroit Metro Airport today to protest what they call contract violations by the Florida-based company. The pilots, who are part of the Air Line Pilots Association, said today's protest is ...
5 vying for the expiring Michigan Senate seat - Dearborn Press & GuideDEARBORN HEIGHTS/DEARBORN - On Nov. 4, voters will decide who will fill the seat of current U.S. Sen. Carl Levin, who is seeking re-election this year. Challenging the incumbent candidate on the ballot will be current State Rep. Jack Hoogendyk Jr ...
Actor Forest Whitaker Stumps for Obama in Michigan: "It's Time We ... - Huffingtonpost.comAs the Presidential campaign heads into its last 26 days, the Obama camp continues to concentrate energy in hotbed Michigan. Today they dispatched Academy Award winning actor Forest Whitaker to the state, starting in Lansing. The soft-spoken actor ...
National City stock drops 27 percent - WOODGRAND RAPIDS, Mich. (WOOD) -- Shares of National City Bank's parent company dropped 27 percent Monday, raising questions among some financial observers about the future of the bank. The drop came days after National City, which holds 7 percent of all ...
Road to November: Eating Across America - New York Times BlogsThe Times’s Jennifer Steinhauer and Monica Almeida are traversing the country from the Golden Gate Bridge in San Francisco to the George Washington Bridge in New York, chatting with voters about the presidential campaign. Follow along here. Ask a ...
As a Matter of Fact, I Like Beer - Reason.comWho "won" the debate? As usual, I will not presume to speak for the plain people of Peoria. But sticking to my personal reactions: John McCain made some genuinely good points tonight. He scored a hit with his attack on Fannie and Freddie, he seemed ...
October 2008 - Palm Beach InteractiveThat was former O.J. Simpson private eye Pat McKenna ’s reaction to last week’s armed robbery conviction of the man’s he defended for years. “O.J.’s a guy who’d be jailed for jaywalking,” said McKenna. “This is a guy who’d be ...

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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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