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Housing slump felt in Richmond - Richmond Times-Dispatch
Homes in the Richmond area continue to sell as the housing slump lingers nationwide. But the market here has slowed as well and prices are falling, although not as sharply as in other areas. "We say we're insulated -- and we are a bit -- but don't ...

Housing slump felt in Richmond: Still, speaker says area remains ... - TradingMarkets.com
"We say we're insulated -- and we are a bit -- but don't let me lull you into thinking we have not been affected," said Bill White, president of Joyner Fine Properties. "Our insulation has been broken." White spoke at a presentation Thursday evening ...

Tough times will touch Richmond - Inrich.com
The Richmond area will weather the economic tough times better than much of the rest of the country, but it won't be able to escape them, say local experts who spoke last night in a downtown public forum on the economy. The downturn is part of a ...

Federal aid helps; fear is enemy now - Richmond Times-Dispatch
The U.S. government has responded to the global financial crisis by pouring massive amounts of liquidity into the system and insuring deposits. "Quite simply, the capital markets are a mess," Tuck Reed, an executive vice president at SunTrust ...

Richmond Center worth keeping afloat - Nevada Journal
In the flood of 1993, under a different name and in a different building, the agency now operating as the Richmond Center was under water. Reams of documents were soaked. In the aftermath, staff painstakingly pulled apart the pages and spread them ...

Disclosure of Vick's finances reveals excess - Observer-Reporter
RICHMOND, Va. - Michael Vick was once the NFL's highest-paid player, and he spent like it. One of his friends tools around in a $31,000 Cadillac DTS. His former personal assistant steers a $45,000 Infiniti M45 and has a pair of power boats. His ...

THE FED: Richmond Fed's Lacker Doubts U.S. Will Experience Deflation - FXStreet.com
WASHINGTON (Dow Jones) -- It's unlikely that the U.S. economy will experience a period of generally falling prices, known as deflation, in coming months, the president of Federal Reserve Bank of Richmond, Va., said Friday. The issue of falling prices ...

Richmond Heights delays vote on development - St. Louis Post-Dispatch
Richmond Heights — Hadley Township residents, who were supposed to have been paid long ago by a developer for their properties, would get $1,500 extra each for their troubles under a new plan. But they'll also have to wait a week longer than they ...

Recession Probably Deepened in October: U.S. Economy Preview - Bloomberg
Nov. 23 (Bloomberg) -- The U.S. recession probably deepened as consumer spending plunged in October by the most since the 2001 downturn and businesses slashed investment, government reports may show this week. Purchases declined 1 percent after a 0.3 ...

Insurance shares slump, with Hartford down 29 pct - Forbes
Shares of Hartford Financial Services Group Inc. and other life insurers fell Wednesday as investors grew more concerned about the sector's large exposure to commercial mortgage investments and the variable annuity business. Shares of Hartford ...

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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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