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Iceland guarantees British savers' deposits in Icesave to clear way ... - Hartford Courant
LONDON (AP) _ Iceland moved to secure $6 billion in loans to refloat its collapsed financial system as Britain said Monday it would welcome a government promise to guarantee its citizens' deposits in collapsed internet bank Icesave. The International ...

COLUMN - 82 years ago, area's electric train stopped - Holland Sentinel
For the past 161 years, Holland area places and personalities have made the news. In this series of articles, The Sentinel features tales that footnote the history of this community. During the first quarter of the 20th Century, Holland enjoyed a ...

COLUMN - Job 1 is simply creating jobs - Holland Sentinel
Upon graduating from high school, I took a $1.50-an-hour summer job as a low-level grunt for a road construction firm in my hometown in Texas. It was hot, dirty and boring work, with long hours. I hated every minute. The only thing I hated worse than ...

Two arrested in thefts of cash and jewelry - Buffalo News
An investigation into thefts of cash and jewelry led to the arrest of two Cheektowaga residents on a slew of charges, state police reported Tuesday. Christopher L. Leipler, 22, and Nicole Roberts, 21, were taken into custody Thursday after troopers ...

The Real Fight: Business Ethics in UFC - Bleacherreport.com
In the early days of UFC, there was a brisk, 30-something fighter named Evan Tanner who went into the octagon, won his fight and said, "Now I can pay my mortgage... In the early days of UFC, there was a brisk, 30-something fighter named Evan Tanner ...

Compelling course at gym - Boston Globe
Bret Bondlow is hoping a course he is offering at his Hanover business, Compelling Fitness, will offer new help to autistic children and adults, and anyone with special needs. The business opened last December, and shortly thereafter, Bondlow, a ...

2008 was stressful year for local, state farmers - Murray Ledger & Times
Summer drought along with untimely drenching rain and high winds during the fall left most area farmers with a stunted harvest for 2008, but growers are optimistic that Mother Nature will come through in 2009. Airport Road farmer Danny Cunningham ...

The U.P. Economy Part 1 - WLUC TV 6
More Local/State News... Tuesday, November 18, 2008 at 11:30 a.m. MARQUETTE -- If these last couple of weeks has proven anything, Upper Michigan is not immune from the global economic downturn.  There’s the closing of restaurants, a car dealership ...

Paulson resists Democrats' call to rescue homeowners - Los Angeles Times
Treasury Secretary Henry Paulson, left, Federal Reserve Chairman Ben Bernanke and Federal Deposit Insurance Corp. Chairwoman Sheila Bair testify before the House Financial Services Committee on the financial rescue. The Treasury secretary tells a ...

DeKleine Builders to close as new home sales nationally plunged to ... - MLive.com
Byron Township-based DeKleine Builders is among the latest companies to fall victim to a housing market that one economist calls "a disaster area." "The sales have just dropped right off the table," said Project Manager Jacob DeKleine, whose brother ...

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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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