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More seeking social services help in tight economy - Duluth News Tribune
Social services officials in central Minnesota say they are seeing a substantial increase in the number of people seeking help because of the slumping economy. And, they say, many of these people have never had to ask for help before. Christina Zeise ...

Deficit aside, Minn. lawmakers have issues - Duluth News Tribune
Minnesota lawmakers will have a hard time peeling their attention away from the huge hole in the state budget when they convene Tuesday. But they will also take on some thorny issues that have little to do with money. The fight over gay marriage is ...

HERMANTOWN FEDERAL CU - Budgeteer News
Hermantown Federal Credit Union, located in the heart of the Hermantown community, serves nearly 14,000 members, which includes all of St. Louis County and local union and trade associations. The main office is located at 4477 LaVaque Road in ...

Vick wants to auction Ga. home after value drop - San Francisco Gate
Tuesday, January 6, 2009 The imprisoned former NFL star disclosed the auction plans late Monday in a new financial disclosure statement filed in his bankruptcy case in Newport News. His lawyers are preparing a motion seeking U.S. Bankruptcy Judge ...

Vick seeks OK for home near Atlanta to be auctioned - HamptonRoads.com
After more than a year on the market and a $400,000 price reduction, Michael Vick's eight-bedroom home in the Atlanta area will go on the auction block if a bankruptcy judge agrees to the move. The imprisoned former NFL star disclosed the auction ...

Vick wants to auction home after value drop - PR Inside
RICHMOND, Virginia (AP) - After more than a year on the market and a $400,000 (300,000 euros) price reduction, Michael Vick's eight-bedroom home in the Atlanta area will go to auction if a bankruptcy judge agrees to the move. The imprisoned former ...

Broncos bring in Cowboys' Garrett for interview - Brownsville Herald
ENGLEWOOD, Colo. - Rick Dennison served 14 seasons as Mike Shanahan's disciple, and now he wants to be his replacement. The Denver Broncos offensive coordinator met with team owner Pat Bowlen on Tuesday after expressing interest in the position ...

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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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