Tupelo Mortgage Rates and Information Online from competing Lenders

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Financial News
Year in review: Housing, loans paint bleak picture for banks in 2009 - Memphis Commercial Appeal
Dragged 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 Talk
Walter 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 Star
Looking 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 Newswire
TAMPA, 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 ...

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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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