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News about Mortgages:
People in Business - Jackson Clarion-LedgerPaula Spurgeon has been promoted to vice president. Spurgeon has 17 years of experience in banking and has been with the company for more than six years. She is a graduate of Delta State University and Cannon Financial Institute. Tann, Brown & Russ ...
Strib editorialists: Bring on recount lawsuit! - Minnpost.comThe Strib editorial page encourages a recount lawsuit. Technically, the newspaper says the State Canvass Board shouldn't assess possibly valid but rejected absentee ballots. Refusing the re-look forces a court challenge, it acknowledges. The Canvass ...
Buy Real Estate Now - Forbes11.27.08 - First, the bad news. New home sales in the U.S. haven't been this low since 1991, according to the Commerce Department. Now the good news. New home sales in the U.S. haven't been this low since 1991. This means prices are back to where ...
Violent Standoff Continues in Mumbai; Dozens Dead - Wall Street JournalContinued violence rattled India's financial capital of Mumbai Thursday, after at least 101 people were killed in explosions and gun attacks overnight and terrorists took several dozen hostages at two of the city's most popular hotels for Western ...
Retail sales soar past expectations - Globe and MailMike G from Canada writes: If everyone just minds their own business and stop talking doom and gloom, things would get better. North Amercian economies are consumer driven. As consumer confidence goes down, there goes the economy. If the house prices ...
Jerome Chen's blog - Foreign Policy BlogsAs the global economic environment continues to worsen, the People's Bank of China has cut its key one year interest rate by 1.08 percent to 5.58 percent. It has also lowered the required reserve ratio that banks must maintain. This comes as the ...
That's when you either hold up your hands and yell "WHEEEeeeee" ...or ... - Globe and MailBobby Del Rio from Toronto, Canada writes: I'd like to know who cashed in - knowing all this was going to happen. A few of those Wall Streeters orchestrated this house of cards - and are probably sitting pretty in Bermuda... Somebody exploited the ...
Up Next - CBS NewsTHE CHEATERS - 60 MINUTES and The Washington Post reveal how online poker players suspecting cheating were forced to successfully ferret out the cheaters themselves. That's because managers of the mostly-unregulated $18 billion Internet gambling ...
Viewing all entries for: November 2008 - Economist.com"The Realtors are reporting that foreclosure sales - that is distress sales being foreclosures or short sales - have risen from what they thought was 35% to 40% of all existing home sales, now they are saying it is 45% of all existing home sales ...
November 2008 - Weekly StandardThe terror assault on Mumbai is in its second day as Indian security forces struggle to regain control of the capital and clear the remaining terrorists from two hotels and a residential complex. Hundreds of Indian Naval and National Security Guards ...
Today's Mortgage Terms starting with M
Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.
Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.
Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.
Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.
Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).
Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.
Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment.
Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment.
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