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News about Mortgages:
Property transactions - Duluth News Tribune2100 Water St., W105-A, Ashland Rentals LLC purchased from Beacon Point Condominiums LLC for $1,375,000, residential, 9/08. 2100 Water St., W304-A, Roger Reinardy purchased from Beacon Point Condominiums LLC for $777,500, residential, 7/08. 2100 ...
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Today's Mortgage Terms starting with E
Equity: The difference between the current market value of a property and the total debt outstanding against the property.
Escrow: A transaction in which a third party represents both the buyer and seller, or for borrower and lender, involving the handling of legal documents and disbursement of funds. In some parts of the US, escrow of taxes and insurance premiums are referred to as impound or reserves.
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