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Cheney bashes Russia for 'brutality' in Georgia - CNN
(CNN) -- Vice President Dick Cheney harshly criticized Russia's military incursion into Georgia on Saturday, calling the action "an affront to civilized standards." Vice President Dick Cheney arrives at a conference of political and business leaders ...

Government may soon back troubled mortgage giants - San Francisco Gate
The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the nation's ...

Victoria Levin succumbs to breast cancer - Detroit News
Victoria S. Levin, wife of U.S. Rep. Sander Levin, D-Royal Oak -- a loving mother and grandmother, accomplished career woman, and tireless children's mental health advocate -- died of breast cancer on Thursday, surrounded by family at Georgetown ...

Home loan troubles break records again - San Francisco Gate
The source of trouble in the mortgage market has shifted from subprime loans made to borrowers with bad credit to homeowners who had solid credit but took out exotic loans with ballooning monthly payments. The Mortgage Bankers Association said Friday ...

Ex-Lake man found guilty - Santa Rosa Press Democrat
A former Lake County man has been convicted of second-degree murder in the shooting death of a Chico man in 2005. A Butte County jury Wednesday found William Thomas Schmitz, 26, of Chico, guilty of using a firearm -- a .357 Smith & Wesson revolver ...

DUI checkpoint nets 30 - Santa Rosa Press Democrat
Thirty people were arrested on suspicion of drunk driving and other offenses at Friday checkpoints, Petaluma police said. No names were included in the statement police released Saturday morning, which said five drivers were arrested on suspicion of ...

NFL reshuffles the deck for 2008 - ESPN.com
I started making trips to Vegas in 1996, the same year "Swingers" came out, back when every 48-hour blackjack binge felt like walking a financial tightrope with Philippe Petit. These were the days of Rio's $10 buffets, cross-country flights with two ...

Some of the quotes from this speech include: - Huffingtonpost.com
"I would like somebody who knows about a bunch of stuff that I'm not as expert on. I think a lot of people assume that might be some sort of military thing to make me look more Commander-in-Chief-like. Ironically, this is an area--foreign policy is ...

Incredible shrinking restaurant portions, and other sneaky tricks - Walletpop.com
Dining out in New York is often a heady experience -- especially when you get the check. You can't stop going back for more, however, because it's just too convenient, and fun, and part of the joy of living in a big city. But after reading about how ...

Top Stories - at CNN.com - Yahoo News
Workers at Boeing walked off the job on Saturday after nearly two days of around-the-clock talks failed to avert what could one of the nation's most disruptive strikes in more than a decade. Tropical Storm Hanna landed near the South Carolina-North ...

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Today's Mortgage Terms starting with P

  • Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
  • Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
  • Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
  • Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
  • Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
  • Principal: It is the amount of money borrowed or owed, excluding interest.
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