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Down housing market has Duluth family seeking swap - Winona Daily NewsDULUTH, Minn. (AP) — A Duluth family is trying an unorthodox way to overcome the slump in the housing market. Katie McKinnon and her fiancee, Jacob Farkas, are seeking someone to swap houses with them. They want to trade their two bedroom for a ...
AG wants mandatory mediation in foreclosures - Winona Daily NewsST. PAUL (AP) — Minnesota Attorney General Lori Swanson outlined a plan Thursday to force mortgage lenders to negotiate with homeowners before foreclosing on their homes. With an anticipated 36,000 Minnesota homeowners facing foreclosure in 2009 ...
Music Review: Totally Michael - Totally Michael - Blogcritics.orgI graduated high school in 1994. During my senior year, 10,000 Maniacs' Our Time In Eden still had a pretty solid grip on the airwaves. My song was "These Are Days." I have a sharp memory of driving into the parking lot of my high school for a speech ...
Minnesota: Dem hopes center on Bachmann, Ramstad seats - Winona Daily NewsWASHINGTON (AP) _ Minnesota Democrats saw an opportunity to pick up two U.S. House seats on Tuesday, hoping to defeat Rep. Michele Bachmann and win an open seat to replace longtime Republican Rep. Jim Ramstad. In two other competitive House races ...
The Day Ahead Canada & U.S.: Canadian and U.S. Trade Data - Economicnews(CEP News) - The economic data in North America will pick up on Thursday with the release of Canadian and U.S. Trade data for September. Economists are not expecting much good news for both countries as weak domestic demand lowers imports and weak ...
U.S. Senate race has focused on economy, jabs - Winona Daily NewsPolls show Minnesota’s three-way race for the U.S. Senate tightening as the candidates’ rhetoric turns to the economy and away from attack ads that have so far defined the contest. Republican Sen. Norm Coleman is trying to hold off political ...
Fastenal earnings up 17 percent - La Crosse TribuneWinona-based Fastenal Co. on Monday reported gains of more than 17 percent in net sales and earnings in third quarter 2008 from the same time last year — evidence that the city’s biggest employer is bucking America’s economic downturn. The ...
Fastenal sales jump 12 percent - La Crosse TribuneWinona, Minn.-based Fastenal Co. enjoyed another strong month in October, as sales jumped nearly 12 percent over last October’s total. The sales spike also translated into more jobs, as the company reported it employed 14 percent more people than ...
U.S. 10-Year Notes Advance as Stocks Fall, Intel Cuts Forecast - BloombergNov. 13 (Bloomberg) -- Ten-year Treasury notes rose as stocks declined and as Wal-Mart Stores Inc. and Intel Corp. cut earnings forecasts, signaling the credit crunch is affecting the broader economy. Two-year yields were near the lowest level in ...
Market Insider: Economy's Illness Keeps Spreading - CNBCLike anxious relatives in a hospital room, investors have been watching the economy get sicker and sicker with new symptoms surfacing daily. Flickr User: timetrax23 That trend is likely to stick in the week ahead, and the stock market should stay ...
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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