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GM Canada beset by pension crisis - Globe and MailFor years, the big 3 car makers have underfunded their pension plans, with the reluctant approval of their autoworkers unions who wanted to maintain the level of their hourly wages and get annual increases. Now these greedy companies and individuals ...
AMK candidates held debate at ELSS - Elliot Lake StandardCandidates in the Oct. 14 federal election got a chance to explain their platforms to students at Elliot Lake Secondary School (ELSS) on Thursday morning. The ELSS all-candidates debate was held in the school cafeteria. The candidates are: Algoma ...
Today's Mortgage Terms starting with D
Default: Failure to fulfill legal obligations of a contract, including failure to make payments on a loan.
Discounted Loan: When the note rate on a loan is lower than the market rate, it is a discounted loan.
Discount Point: A point paid to the lender to permanently lower or acquire down an interest rate. Money must be paid up front to lower the rate.
Down Payment: The amount of cash you must pay down initially for the purchase of your home. For conventional loans, you should aim for a down payment that's at least 20% of your home's value. The reason is lenders generally do not require private mortgage insurance with a down payment of at least 20% of your home's purchase price.
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