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Year in review: Housing, loans paint bleak picture for banks in 2009 - Memphis Commercial AppealDragged down first by housing and later by loans to homebuilders, banks -- the nation's and the area's economic circulatory system -- suffered from anemia in 2008. Despite a federal program that has pumped capital into banks, including the largest ...
Jim Walter Homes to close branches, including one in Alexandria - Alexandria Daily Town TalkWalter Industries, Inc. today announced the closure of Jim Walter Homes, including a branch in Alexandria, according to PRNewswire-FirstCall. Jim Walter Homes built more than 350,000 homes during its history, but has not been profitable in several ...
After the Fire, Memories Remain - Port St. Joe StarLooking out from the deck of an outdoor pavilion, onto the pile of dust and ash where her home once stood, Abigail Taunton recalled a night long ago. She and her husband, David, awakened their children from their beds, and under the cover of night ...
Walter Industries, Inc. Announces Closure of Jim Walter Homes - PR NewswireTAMPA, Fla., Jan. 6 /PRNewswire-FirstCall/ -- Walter Industries, Inc. (NYSE: WLT) announced today the closure of its Jim Walter Homes subsidiary. Jim Walter Homes built more than 350,000 homes during its history, but has not been profitable in ...
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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