Rapid City Mortgage Rates and Information Online from competing Lenders

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Bush Reversal on Iraq Deadline Gives Obama Breathing Room - Washington Post
During a symbolic signing ceremony, Iraq ambassador Ryan Crocker said the Iraqi Cabinet's approval of a security pact extending the presence of American forces in Iraq for three years is 'historic'. The deal still needs parliamentary approval. By ...

Paulson says bailout not for mortgage guarantees - Rapid City Journal
WASHINGTON - Treasury Secretary Henry Paulson expressed fresh reservations Tuesday about tapping a $700 billion bailout pool to provide mortgage guarantees to help stem soaring home foreclosures. Paulson and Federal Reserve Chairman Ben Bernanke ...

Japan seeks China's contribution to IMF - Business Times Malaysia
LIMA : Prime Minister Taro Aso on Saturday asked Chinese President Hu Jintao to follow Japan’s commitment to raise funds to the International Monetary Fund (IMF). The two leaders held talks after dinner with their Asia-Pacific partners on the first ...

South Korea still have policy options: Officials - Business Times Malaysia
SEOUL: South Korea’s top financial officials said yesterday they had additional policy options to combat the global downturn, a comment analysts saw as further pressure on the central bank to cut interest rates. Asia’s fourth-largest economy has ...

More customers resume using old-fashioned cash - Buffalo News
Cash or credit? For more Americans, who have already maxed out their credit cards or are just trying to manage their spending better in the tough economy, the answer is increasingly the old-fashioned one. Retailers like Wal-Mart Stores Inc., Target ...

Citigroup plans a leaner future, cuts 53,000 jobs - Sioux City Journal
NEW YORK - Citigroup, widely seen as the sickest Wall Street bank, will make some of the most severe cuts in the history of U.S. business _ 53,000 jobs _ as it tries to slash costs and get back to basics before it's too late. The cuts, which will ...

Up to 40pc of buy-to-let borrowers face negative equity - Daily Telegraph
Buy-to-let mortgages are already seeing a proportionally higher level of repossessions than normal owner-occupier loans. However, credit agency Standard & Poor's is warning that the market is likely to deteriorate further because it is "more ...

TV game shows break out online - Buffalo News
NEW YORK — You take trivia answers that call for rapid-fire questions. You take a jumbo roulette wheel and the letters of the alphabet. What you’ve got are “Jeopardy!” and “Wheel of Fortune,” TV’s reigning syndicated shows for a quarter ...

Good intentions took us on the road to hell - Times Online
As a print journalist, I find the electronic response from readers of Times Online gives me rapid correction of mistaken arguments. When I get something wrong, I now know it within a few hours, often from professional analysts, sometimes from the ...

Investor fear remains deep despite 1-day rally - Rapid City Journal
NEW YORK - Since the Nov. 4 election, investors have been abandoning stocks in a kind of slow-motion crash that experts say underlines just how anxious they are about what is likely to be a long and deep recession. Even after a late-day rally on ...

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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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