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News about Mortgages:
Mortgage lenders start matching Bank rate cut - MSN UK NewsLONDON (Reuters) - Three major mortgage lenders said they would cut their standard variable rate by 0.5 percentage point, matching the Bank of England's rate cut on Thursday and leaving others saying they were considering their response. HSBC
Pound Falls Against Dollar Before Manufacturing, Mortgage Data - Bloomberg
Jan. 2 (Bloomberg) -- The pound fell against the dollar before reports that may show U.K. manufacturing shrank last month at the fastest pace in at least 16 years and mortgage approvals matched the lowest level since at least 1999. The Chartered ...
Housing Video Gallery - CNBC
Institutional investors are looking to take advantage of depressed housing prices and the rebound that could follow. Sco... PE Firms Buying Bad Mortgag... Private Equity firms are starting to buy up bad mortgages from the FDIC, and this could help ...
Citi mulls endorsing bankruptcy reform: sources - Reuters
WASHINGTON (Reuters) - Citigroup Inc could soon agree to principles that would let troubled borrowers save their homes through bankruptcy, sources familiar with the talks said on Thursday, while industry groups are easing their opposition to the plan ...
Bank feels rates pressure as house prices hit fresh low - The Independent
House prices fell at a record pace in 2008 and mortgage approvals have dropped to a new low with further strain on the property market to come this year. Property values dropped 16.2 per cent in the final quarter of 2008 from a year earlier, the ...
Bankruptcies jump 10%, pace expected to quicken - Globe and Mail
It's a predictable pattern in any downturn: house prices fall, unemployment goes up and, then, personal bankruptcies surge. But this downturn already has broken the mould, with the number of Canadians falling into serious financial straits rising ...
Citigroup considers 'cram-down' law - CNN Money
WASHINGTON (Reuters) -- Citigroup could soon agree to principles that would let troubled borrowers save their homes through bankruptcy, sources familiar with the talks said Thursday, while industry groups are easing their opposition to the plan ...
Mortgage blow for homeowners - Evening Standard
Rowan Moore: My credit crunch tip: don't trust the experts Economists cast doubt on early recovery from slump Asda sets the pace with discounts for 'tough times' Experts fear gas shortage as Russia cuts off supplies to Ukraine BRITAIN'S biggest ...
Register for FREE - Wall Street Journal
WASHINGTON -- A Senate bill aimed at giving strapped homeowners more leverage in renegotiating their mortgages cleared a hurdle Thursday when Citigroup Inc. dropped its opposition. The legislation, which is being advanced by top Senate Democrats ...
Home Prices Declined at Record Pace in October - Wall Street Journal
The decline in U.S. home prices continues to intensify as tight credit weighs on the sector and consumers remain wary about making major purchases. The Standard & Poor's/Case-Shiller home-price index, a closely watched gauge, fell 2.2% in October ...

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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